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ques:A CO. STARTED PRODUCTION AND HAS FOUND THAT 1ST 10 UNITS OF PRODUICTION TOOK 120 HOURS AND NEXT 30 UNITS TOOK 150 HOURS.
WHAT WAS THE LEARNING RATE?Please do not type in capital letters (and do not press for an immediate answer – we try to answer within 24 hours and I always answer mush sooner than that. We do not sit permanently at the computer!).
The average time per batch of 10 units when they make 4 batches (i.e. 40 units) is 260/4 = 65 hours.
Therefore, using the doubling rule, the learning rate = square root of (65/120) = 0.736 (or 73.6%)
This is all explained 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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