Question: Please check work and help finish the remaining problems. Thanks. Use this information to answer the next 5 questions. Your task is to determine the

Please check work and help finish the remainingPlease check work and help finish the remainingPlease check work and help finish the remainingPlease check work and help finish the remainingPlease check work and help finish the remaining problems. Thanks.

Use this information to answer the next 5 questions. Your task is to determine the estimated learning rate for production of a new product. You have a sample of actual historical data from a previous product that is considered a good estimate of the learning rate for the new product. This data is as follows: ITEM # TOTAL LABOR HRS. ITEM # TOTAL LABOR HRS. 1 25,000 9 12,994 2 20,650 10 12,644 3 20,117 11 12,292 4 16,887 12 12,943 5 18,320 13 11,593 6 17,430 14 11,341 7 15,385 15 11,001 8 13,407 16 10,310 Question 1 4 pts What is the estimated learning rate for the new product, based upon the data given above? 80% 75% O 92% O 90% Question 2 4 pts If the estimate for the first item of the new product is 50,000 total labor hours, use the estimated learning rate determined in Question 1 to determine the estimated labor hours for new product Item #2? O 89,522 hours 40,000 hours O 25,914 hours O 35,000 hours Question 3 4 pts If the estimate for the first item of the new product is 50,000 total labor hours, use the estimated learning rate determined in Question 1 to determine the estimated labor hours for new product Item #9? O 35,998 hours O 40,000 hours O 19,720 hours O 24,650 hours Question 4 4 pts If the estimate for the first item of the new product is 50,000 total labor hours, use the estimated learning rate determined in Question 1 to determine the estimated labor hours for new product Item #35? O 36,000 hours O 12,736 hours 0 24,650 hours O 15,920 hours Question 5 4 pts Your average wage is $35 per hour. Given the learning rate you found in Question 1 above, and the new product described in Questions 2, 3, and 4 above, what is the total labor cost to make item #1 and the total labor cost to make item #18? Item #1 = $1,750,000 and Item #18 = $690,200 Item #1 = $50,000 and Item #18 = $19,720 O Item #1 and Item #18 = $630,000 each O Item #1 and Item #18 = $1,220,100 each

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