Acme,Inc,Produces Widgets

question 8

Multiple Choice

Acme,Inc.,produces widgets.To manufacture a new type of widget,it took 51 hours for the first widget.Acme estimates it has an 85% learning rate.Using the logarithmic approach,calculate the time it will take to manufacture the 148th widget.

• A)16.24 hours
• B)15.86 hours
• C)19.52 hours
• D)16.94 hours

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Definitions:

Export Development Canada

A Canadian government agency that provides financing, insurance, and other support to Canadian exporters and investors.

Federal Crown

A term referring to the sovereign power of the government in a monarchy, especially in context to its authority and jurisdiction.

Foreign Exchange Market

A global decentralized or over-the-counter market for trading currencies, where participants can buy, sell, exchange, and speculate on currencies.

Interest Rate Parity

A theory which posits that the disparity in interest rates across two nations is identical to the discrepancy between the forward exchange rate and the current spot exchange rate.