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Hello Mr. Moffat,
I am trying to solve one problem on learning curves and I don’t know how to calculate the following: the learning rate for first batch of 100 products is 1500 hrs. The total time for the first 16 batches is 9000 hrs. I need to calculate the actual learning rate in %. Thank you!
If you have watched my free lecture, then you will know that every time production doubles then the average time per batch falls to a fixed % of the previous average time per batch.
The average time per batch for 1 batch is 1,500 hours.
Since 16 involves doubling 4 times (2 then 4 then 8 then 16) the average time per batch for 16 batches will be 1,500 x r^4 (where r is the learning rate).The actual average time per batch for 16 is 9,000 / 16 = 562.5
Therefore 1500 x r^4 = 562.5
r^4 = 562.5/1500 = 0.375
r = fourth root of 0.375 = 0.78 (or 78%)You will only be asked to calculate the learning rate in situation where doubling is involved.
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