Asked by LaQuesha Jewell on May 04, 2024
Verified
Joe's Manufacturing is considering bidding on a small order for 5 units. Based on similar products that they have made in the past, they believe that the first unit will take 500 labour hours. They also believe that there will be an 80% learning rate. How many hours of labour should Joe include for his bid?
Learning Rate
A measure of how quickly a person or an organization improves performance or reduces errors with experience over time.
Labour Hours
The total number of hours worked by employees, often used as a measure of labor cost or productivity in various contexts.
- Utilize learning curves for bid preparation, scheduling, and financial management.
Verified Answer
SL
Shara Lyn SantiagoMay 10, 2024
Final Answer :
From Table E.3 in the text, the total time factor for 5 units and 80% learning is 3.738. The total number of labour hours for all five units would be 500 ∗ 3.738 = 1,869 hours.
Learning Objectives
- Utilize learning curves for bid preparation, scheduling, and financial management.