Why is it very common to learn curve taking place in operating acomplex new machine?
Why is it very common to learn curve taking place in operating acomplex new machine?
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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Question
Why is it very common to learn curve taking place in operating a
complex new machine?
Expert Solution
Learning curve:
The learning curve is a concept used to graphically depict the association between the output and the cost over a defined period. It is normally done to represent the repetitive nature of the task of an employee. In a learning curve, the steeper slope means that the initial learning of the job leads to higher cost savings and the next level of learnings will lead to slow improvement and difficult cost savings.
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