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Refer to the table below. Assume that the company Involved now finds that the learning rate is 70 percent. The 70 percent learning rate coefficient is -0.514573; that is b=-0.514573 in the formula Y= axb Required: Using the formula, Y = axo, compute the labor time and costs for 5, 6, and 7 units. (Round your Intermediate calculations (except for coefficient) and final answers to 2 decimal places.) Unit Produced (X) 1 2 3 4 5 6 7 8 Labor Time Required to Produce the Xth Unit (i.e., the last single unit produced)1 (Y) 100.00 70.00 56.82 49.00 34.30 Cumulative Total Time in Labor- Hours(2) 100.00 S 170.00 226.82 275.82 430.31 Total Cost(3) 5,000.00 8,500.00 11,340.90 13,790.90 21,515.75 Average Cost per Unit(4) S 5,000.00 4,250.00 3,780.30 3,447.73 2,689.47

Refer to the table below. Assume that the company Involved now finds that the learning rate is 70 percent. The 70 percent learning rate coefficient is -0.514573; that is b=-0.514573 in the formula Y= axb Required: Using the formula, Y = axo, compute the labor time and costs for 5, 6, and 7 units. (Round your Intermediate calculations (except for coefficient) and final answers to 2 decimal places.) Unit Produced (X) 1 2 3 4 5 6 7 8 Labor Time Required to Produce the Xth Unit (i.e., the last single unit produced)1 (Y) 100.00 70.00 56.82 49.00 34.30 Cumulative Total Time in Labor- Hours(2) 100.00 S 170.00 226.82 275.82 430.31 Total Cost(3) 5,000.00 8,500.00 11,340.90 13,790.90 21,515.75 Average Cost per Unit(4) S 5,000.00 4,250.00 3,780.30 3,447.73 2,689.47

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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Refer to the table below. Assume that the company involved now finds that the learning rate is 70 percent. The 70 percent learning rate coefficient is -0.514573; that is b= -0.514573 in the formula Y= axb. Required: Using the formula, Y= axb, compute the labor time and costs for 5, 6, and 7 units. (Round your Intermediate calculations (except for coefficient) and final answers to 2 decimal places.) Unit Produced (X) 1 2 3 4 5 6 7 8 Labor Time Required to Produce the Xth Unit (i.e., the last single unit produced)1 (Y) 100.00 70.00 56.82 49.00 34.30 Cumulative Total Time in Labor- Hours(2) 100.00 S 170.00 226.82 275.82 430.31 Total Cost(3) Average Cost per Unit(4) 5,000.00 S 5,000.00 8,500.00 4,250.00 11,340.90 13,790.90 21,515.75 3,780.30 3,447.73 2,689.47
Transcribed Image Text:Refer to the table below. Assume that the company involved now finds that the learning rate is 70 percent. The 70 percent learning rate coefficient is -0.514573; that is b= -0.514573 in the formula Y= axb. Required: Using the formula, Y= axb, compute the labor time and costs for 5, 6, and 7 units. (Round your Intermediate calculations (except for coefficient) and final answers to 2 decimal places.) Unit Produced (X) 1 2 3 4 5 6 7 8 Labor Time Required to Produce the Xth Unit (i.e., the last single unit produced)1 (Y) 100.00 70.00 56.82 49.00 34.30 Cumulative Total Time in Labor- Hours(2) 100.00 S 170.00 226.82 275.82 430.31 Total Cost(3) Average Cost per Unit(4) 5,000.00 S 5,000.00 8,500.00 4,250.00 11,340.90 13,790.90 21,515.75 3,780.30 3,447.73 2,689.47
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