Assume that Whee, Cheatham, and Howe is an auditing firm that has found that its summer interns are subject to a 90 percent learning curve for one of its important tasks, proofreading financial statements. For one of its interns, Kim Down, the firm has started to analyze the relation between time and financial statement proofreading. Financial Statements Proofread (X) Time Required to Proofread the Xth Financial Statement 1 2.0 hours 2 1.8 hours 4 ? 8 ?
Assume that Whee, Cheatham, and Howe is an auditing firm that has found that its summer interns are subject to a 90 percent learning curve for one of its important tasks, proofreading financial statements. For one of its interns, Kim Down, the firm has started to analyze the relation between time and financial statement proofreading. Financial Statements Proofread (X) Time Required to Proofread the Xth Financial Statement 1 2.0 hours 2 1.8 hours 4 ? 8 ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume that Whee, Cheatham, and Howe is an auditing firm that has found that its summer interns are subject to a 90 percent learning curve for one of its important tasks, proofreading financial statements. For one of its interns, Kim Down, the firm has started to analyze the relation between time and financial statement proofreading.
| Financial Statements Proofread (X) |
Time Required to Proofread the Xth Financial Statement |
| 1 | 2.0 hours |
| 2 | 1.8 hours |
| 4 | ? |
| 8 | ? |
| 16 | ? |
Required:
a. Compute the time required to proofread 4, 8, and 16 financial statements.
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