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What is the time needed to produce the last unit when production doubles from 100 units to the 200 unit level, given that the incremental unit time learning model has a 60% learning curve, and the corresponding time at the 100 unit level of production is 4.0 minutes?
Empirical Rule
A statistical rule stating that for a normally distributed dataset, about 68% of values fall within one standard deviation, 95% within two, and 99.7% within three standard deviations from the mean.
Tchebysheff's Theorem
A mathematical formula that determines the minimum proportion of values that lie within a specified number of standard deviations from the mean, for any distribution.
Mound-Shaped
Mound-shaped describes a symmetrical, bell-shaped distribution of data points, indicative of a normal distribution.
Mode
The value that appears most frequently in a data set, a measure of central tendency.
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