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Assume you are a project cost engineer calculating the cost of a repetitive activity for your project. There are a total of 20 iterations of this activity required for the project. The project activity takes 2.5 hours at its steady rate and the learning rate is 75%. Calculate the initial output time for the first unit produced, using the learning curve formula:
Y?=ab
b= log decimal learning rate/log 2
I get the log decimal from the chart below (.288), but how do I figure out the value for log2?
Learning Curve Coefficient Table
70%
75%
80%
85%
Unit Rate
Unit Time
Total Time
5
.437
3.195
.513
3.459
.596
3.738
.686
4.031
10
.306
4.932
.385
5.589
.477
6.315
.583
7.116
15
.248
6.274
.325
7.319
.418
8.511
530
9.861
20
.214
7.407
.288
8.828
.381
10.485
.495
12.402
Based on a learning curve of 70%, how many man-hours will be required to produce the 8th stabilization devise? What is the cost to produce the 8th stabilization device? What is the accumulative cost to produce all 8 stabilization devises?
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