Plot the per unit learning curve

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Reference no: EM132365213

Business Decision Modeling Assignment - Practice Problem: Learning Curves

A contractor developed an initial set of 5 new systems for an oil drilling company. Labor hours for building the systems are shown in the following table.

Unit #	Hours
1	57,490
2	53,004
3	50,670
4	48,800

Based on positive feedback the customer is considering ordering either 20 or 40 production units. Fully loaded labor costs for the company are approximately $50 per hour.

Assuming a standard learning curve model do the following:

Estimate the Learning percentage based on the first 4 units.
Estimate the average per unit labor cost for a production order of 20 units.
Estimate the average per unit labor cost for a production order of 40 units.
Plot the per unit learning curve.

Note - Detailed explanation and solution needed for a practice problem.

Reference no: EM132365213

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