Question: Unit Time in Minutes g 0 ) 2 3 . 2 1 0 2 2 2 1 8 . 9 1 4 . 3 1

Unit Time in Minutes g0)23.21022218.914.313.912.611.410.69.81. Use least squares regression as discussed in class to estimate the learning curve parameters. Calculate 95% confidence intervals for the parameters. Calculate the parameters using the equations given in class and verify your results using Solver in Excel, and using the regression function in Excel. Do this for the raw data, for the half log model (log of times), and the full log model. 2. Use the pairs approach discussed in class to estimate the learning curve parameters. 3. You have been asked to prepare a quote to produce 50 of these parts. If the labor rate is $25.00 per hour, prepare a quote for how much a batch of 50 units will cost. Prepare two quotes, one using the least squares estimates and one using the doubles estimates.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!