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There is a learning curve of 75% for the first 15 jobs. For components PP, new designer has completed his first job in 5 hours. His paid is $12 per hour.
**Learning rate 75% Learning factor -0.415
What the labour cost for sixth job?Ans given is 17.28 but I dont know how the calculations works. Can Mr Moffat briefly explain to me. Fully appreciate.
You need to use the formula provided to calculate the average time per job when they do six jobs.
Multiplying this by 6 gives you the total time taken to do 6 jobs.Then you use the formula to calculate the average time per job when they do five jobs.
Multiplying this by 5 gives you the total time taken to do 5 jobs.To find out how long the 6th job took, we subtract the total time to do 5 jobs from the total time to do 6 jobs.
I do explain all of this, with examples, in my free lectures on learning curves. The lectures are a complete free course for Paper PM and cover everything needed to be able to pass the exam well.
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