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Menai Ltd produces a racing yacht, the Star, which has been in production for a number of years, and to date 620 units of the Star have been produced. The budget for the next quarter is showing the production of 65 units of the Star. If the 1st ever unit took 180 hours and an 80% learning curve applies: i. Calculate the total labour hours needed for the production of 65 units of the Star ii. Calculate the average labour time per unit iii. Explain the learning curve theory iv. Explain where this information may be used by Menai Ltd Note: the learning co-efficient of 80% is -0.322

Menai Ltd produces a racing yacht, the Star, which has been in production for a number of years, and to date 620 units of the Star have been produced. The budget for the next quarter is showing the production of 65 units of the Star. If the 1st ever unit took 180 hours and an 80% learning curve applies: i. Calculate the total labour hours needed for the production of 65 units of the Star ii. Calculate the average labour time per unit iii. Explain the learning curve theory iv. Explain where this information may be used by Menai Ltd Note: the learning co-efficient of 80% is -0.322

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Menai Ltd produces a racing yacht, the Star, which has been in production for a number of years, and to date 620 units of the Star have been produced. The budget for the next quarter is showing the production of 65 units of the Star. If the 1st ever unit took 180 hours and an 80% learning curve applies:
i. Calculate the total labour hours needed for the production of 65 units of the Star
ii. Calculate the average labour time per unit
iii. Explain the learning curve theory
iv. Explain where this information may be used by Menai Ltd
Note: the learning co-efficient of 80% is -0.322

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