The Learning Curve for a Product Is 80

question 110

Multiple Choice

The learning curve for a product is 80%. The first unit took 100 hours to complete. The manufacturer wants to determine how many hours the fifth unit will take by using the logarithmic method. The coefficient b for that calculation is approximately

• A) -.0969.
• B) -.2231.
• C) -.3219.
• D) .80.
• E) 1.903.

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Definitions:

Gross Domestic Product (GDP)

The market value of all final goods and services produced in the nation during a particular period, usually a year.

Social Welfare

Programs and policies designed to provide support for the well-being of individuals and communities, including healthcare, education, and financial aid.

Leisure Time

Free time that an individual can spend away from work, chores, and other obligatory activities, often used for rest, recreation, or personal interests.

Value Added

Value Added refers to the increase in value that a business creates by undergoing a production process, calculated as the difference between the cost of raw materials and the price of the finished product.