Finally, as part of its efforts to remain competitive, PLE tries to keep up with the latest in production technol- ogy. This is especially important in the highly competi- tive lawn-mower line, where competitors can gain a real advantage if they develop more cost-effective means of production. The lawn-mower division therefore spends a great deal of effort in testing

 

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Finally, as part of its efforts to remain competitive, PLE tries to keep up with the latest in production technol- ogy. This is especially important in the highly competi- tive lawn-mower line, where competitors can gain a real advantage if they develop more cost-effective means of production. The lawn-mower division therefore spends a great deal of effort in testing new technology. When new production technology is introduced, firms often experi- ence learning, resulting in a gradual decrease in the time required to produce successive units. Generally, the rate of improvement declines until the production time levels off. One example is the production of a new design for lawn- mower engines. To determine the time required to produce these engines, PLE produced 50 units on its production line; test results are given on the worksheet Engines in the database. Because PLE is continually developing new technology, understanding the rate of learning can be use- ful in estimating future production costs without having to run extensive prototype trials, and Elizabeth would like a better handle on this. Use techniques of regression analysis to assist her in evaluating the data in these three worksheets and reach- ing useful conclusions. Summarize your work in a formal report with all appropriate results and analyses. Finally, as part of its efforts to remain competitive, PLE tries to keep up with the latest in production technol- ogy. This is especially important in the highly competi- tive lawn-mower line, where competitors can gain a real advantage if they develop more cost-effective means of production. The lawn-mower division therefore spends a great deal of effort in testing new technology. When new production technology is introduced, firms often experi- ence learning, resulting in a gradual decrease in the time required to produce successive units. Generally, the rate of improvement declines until the production time levels off. One example is the production of a new design for lawn- mower engines. To determine the time required to produce these engines, PLE produced 50 units on its production line; test results are given on the worksheet Engines in the database. Because PLE is continually developing new technology, understanding the rate of learning can be use- ful in estimating future production costs without having to run extensive prototype trials, and Elizabeth would like a better handle on this. Use techniques of regression analysis to assist her in evaluating the data in these three worksheets and reach- ing useful conclusions. Summarize your work in a formal report with all appropriate results and analyses. Finally, as part of its efforts to remain competitive, PLE tries to keep up with the latest in production technol- ogy. This is especially important in the highly competi- tive lawn-mower line, where competitors can gain a real advantage if they develop more cost-effective means of production. The lawn-mower division therefore spends a great deal of effort in testing new technology. When new production technology is introduced, firms often experi- ence learning, resulting in a gradual decrease in the time required to produce successive units. Generally, the rate of improvement declines until the production time levels off. One example is the production of a new design for lawn- mower engines. To determine the time required to produce these engines, PLE produced 50 units on its production line; test results are given on the worksheet Engines in the database. Because PLE is continually developing new technology, understanding the rate of learning can be use- ful in estimating future production costs without having to run extensive prototype trials, and Elizabeth would like a better handle on this. Use techniques of regression analysis to assist her in evaluating the data in these three worksheets and reach- ing useful conclusions. Summarize your work in a formal report with all appropriate results and analyses. Engine Production Time Sample Production Time (min) 65.1 2 62.3 60.4 4 58.7 5 58.1 56.9 7 57.0 8 56.5 55.1 10 54.3 11 53.7 12 53.2 13 52.8 14 52.5 15 52.1 16 51.8 17 51.5 18 51.3 19 50.9 Engine Production Time Sample Production Time (min) 65.1 2 62.3 60.4 4 58.7 5 58.1 56.9 7 57.0 8 56.5 55.1 10 54.3 11 53.7 12 53.2 13 52.8 14 52.5 15 52.1 16 51.8 17 51.5 18 51.3 19 50.9 Engine Production Time Sample Production Time (min) 65.1 2 62.3 60.4 4 58.7 5 58.1 56.9 7 57.0 8 56.5 55.1 10 54.3 11 53.7 12 53.2 13 52.8 14 52.5 15 52.1 16 51.8 17 51.5 18 51.3 19 50.9 20 50.5 21 50.2 22 50.0 23 49.7 24 49.5 25 49.3 26 49.4 27 49.1 28 49.0 29 48.8 30 48.5 31 48.3 32 48.2 33 48.1 34 47.9 35 47.7 36 47.6 37 47.4 38 47.1 39 46.9 40 46.8 41 46.7 42 46.6 20 50.5 21 50.2 22 50.0 23 49.7 24 49.5 25 49.3 26 49.4 27 49.1 28 49.0 29 48.8 30 48.5 31 48.3 32 48.2 33 48.1 34 47.9 35 47.7 36 47.6 37 47.4 38 47.1 39 46.9 40 46.8 41 46.7 42 46.6 20 50.5 21 50.2 22 50.0 23 49.7 24 49.5 25 49.3 26 49.4 27 49.1 28 49.0 29 48.8 30 48.5 31 48.3 32 48.2 33 48.1 34 47.9 35 47.7 36 47.6 37 47.4 38 47.1 39 46.9 40 46.8 41 46.7 42 46.6 43 46.5 44 46.5 45 46.2 46 46.3 47 46.0 48 45.8 49 45.7 50 45.6 43 46.5 44 46.5 45 46.2 46 46.3 47 46.0 48 45.8 49 45.7 50 45.6 43 46.5 44 46.5 45 46.2 46 46.3 47 46.0 48 45.8 49 45.7 50 45.6

Expert Answer

The initial step should be to create a regression model that is appropriate. Using Excel to run line View the full answer