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Hello sir,
I just read one question it was asked that what will be the impact of overestimation of learning rate have on labour cost will it increase or will it decrease?So does it mean that we estimated for say, 95% and actually the learning rate was 90% ?(i.e we overestimated by 5%)
Or does it mean that we overstated i.e there will be 70% L.r but only 80% happen..(i.e we overstated by 10%)
Sir how to interpret it?
In terms of the pure English it could actually mean either. I can’t believe this would be asked in the real exam unless there was more clarification.
Where did you find the question, and what does the answer say?
https://photos.app.goo.gl/cKyn8kn8Rk75TQSSA
Ans)
Labour adverse planning efficiency.This question was featured in revision kit of first institution uk
Because the question states that the learning effect has been entered into a spreadsheet, it must mean that the learning rate has been overestimated – that they have entered too high a learning rate in the spreadsheet.
Given the actual learning rate is lower, the actual time taken (and therefore the labour cost) will be lower than what was budgeted.
(I am surprised that First Intuition’s answer does not make this clear.)
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