You Time Someone Completing a Single Task the First Time

question 48

True/False

You time someone completing a single task the first time at 100 minutes, and the fourth time they do the task it takes 81 minutes. You should use an 81 percent learning curve to estimate the length of time this worker will take to complete this task in the future.

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Definitions:

Sales

The activities involved in selling products or services, ultimately resulting in revenue for the business.

Ideal Standards

Benchmarks for costs and efficiency that represent optimal levels of performance under perfect operating conditions.

Material Loss

The reduction in value or quantity of materials resulting from waste, theft, or inefficiency during the production process.

Fixed Budget

A Fixed Budget is a financial plan that allocates set amounts to specific categories or operations, without adjusting for changes in volume or activity levels.