A Product Was Priced Assuming an 80% Learning Curve

question 96

Essay

A product was priced assuming an 80% learning curve.How much extra labor (in $)will be required on the 4th product if the learning curve is actually 90%? Assume that the first unit cost $100 to produce.

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Definitions:

Classical Conditioning

A learning process in which a biologically potent stimulus is paired with a previously neutral stimulus to elicit a conditioned response.

Conditioned Response

A learned reaction to a specific stimulus that results from repeated exposure to that stimulus paired with a particular response.

Classical Conditioning

A learning paradigm wherein two stimuli are continuously paired together; initially, the response comes from the second stimulus, but later, the first stimulus can independently provoke the response.

Unconditioned Stimulus (UCS)

In classical conditioning, an automatically eliciting stimulus that leads to an unconditioned response without prior conditioning.