a. Your group of technicians has a learning curve for a new task. They are seeing a 20% reduction in time whenever the number of units doubles. If it takes 50 minutes to complete the first item, then how long will it take to complete the 5th item?
b. You have a different group of technicians with a different learning curve. Their first item took 50 minutes and you went to lunch (very long) and didn't measure their 2nd or 3rd item's time. You did get the 4th item's time which was 25 minutes. What is this group's learning curve slope parameter? For +1, does your answer look like any other "sort of" common number you know?
c. Here is a new and different type of learning curve table. What is the value of n in the equation Zu = Ku^n for this table?
Number of Units Z/K
See the attached excel file for the full solution.
2a. Your group of technicians has a learning curve for a new task. They are seeing a 20% reduction in time whenever the number of units doubles. If it takes 50 minutes to complete the first item, then how long will it take to complete the 5th item?
The formula for the learning curve is
Y(x) = Kxn
Where x = unit number 5
Y(x) = time to produce xth unit
K= time to produce the first unit 50 minutes
n = ...
The following posting helps with cost-benefit analysis problems.
1. Go to the Federal Reserve's home page at www.federalreserve.gov .
a. Who is the chairman of the board? For how long has he or she served?
b. Who are the governors of the board?
c. The site publishes a short biography for each governor.
1.What experiences and/or degrees do all members have?
2. What experiences and/or degrees differ among members?
2. Go to the New York Fed's Web site at www.ny.frb.org/
research/current_issues/ci2-7.pdf to read "The Yield Curve as a Predictor of Recessions." Then answer the following questions:
a. Why should the steepness of the yield curve be a predictor of recessions?
b. Is the economy more likely to be headed for recession if there is a standard yield curve
or if the yield curve is flat or inverted? Explain your answer.
c. What is the current yield curve spread? What does this mean for future economic