Plot the per unit learning curve

Reference no: EM132365213

Business Decision Modeling Assignment - Practice Problem: Learning Curves

A contractor developed an initial set of 5 new systems for an oil drilling company. Labor hours for building the systems are shown in the following table.

Unit #	Hours
1	57,490
2	53,004
3	50,670
4	48,800

Based on positive feedback the customer is considering ordering either 20 or 40 production units. Fully loaded labor costs for the company are approximately $50 per hour.

Assuming a standard learning curve model do the following:

Estimate the Learning percentage based on the first 4 units.
Estimate the average per unit labor cost for a production order of 20 units.
Estimate the average per unit labor cost for a production order of 40 units.
Plot the per unit learning curve.

Note - Detailed explanation and solution needed for a practice problem.

Reference no: EM132365213

Questions Cloud

What factors make difficult to determine extent of drug use : What factors make it difficult to determine the extent of drug use? What information might be missing in surveys? How would you try to get information?

Develop a human resources plan for an urgent-care clinic : Synthesizing what you have learned throughout the course, develop a human resources plan or strategy for an urgent-care clinic.

Image decimation using matlab : Find the system impulse response - Suppose the above transfer function is a filter, what type of filter is it? (a low-pass, high- pass, band-pass, band-stop or

Explain mandatory benefits organization provide to employees : Benefits are quite possibly one of the most important recruitment and retention tools that an organization has. For this assignment, you are tasked to create.

Plot the per unit learning curve : OMGT 3223 Business Decision Modeling Assignment - Practice Problem: Learning Curves, East Carolina University, USA. Plot the per unit learning curve

Describe goals that a compensation program should attempt : Describe in detail 3-4 goals that a compensation program should attempt to achieve. Explain and discuss some of the unique dilemmas health care organizations.

Market price of road space in a competitive equilibrium : MPE781 – Economics for Managers - Deakin University - What is the market price of road space in a competitive equilibrium - Suppose that road space is a public

How the effectiveness of recruitment will be measured : How the effectiveness of recruitment will be measured? Any legal and ethical concerns and regulations that must/should be considered when making hiring decision

What you have discovered about your professional practice : Outline what you have discovered about your professional practice, personal strengths and weaknesses that surfaced, what additional resources and abilities.

User Account

All Pages