1. Past Performance: not correcting for weaknesses in past performance is a majo
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Question
1. Past Performance: not correcting for weaknesses in past performance is a major trap. Specifically, what weaknesses should one look at, and try to correct in a new estimate?
2. Learning Curve: How a work force improves its performance over time.
a. According to Stewart, what are the components for a learning curve?
b. What type of equation is Y= AQb?
1) linear, 2) log-linear, 3) exponential (Explain your choice)
c. When does one expect the greatest change in a learning curve?
d. Is the learning curve always true or is it a statistical phenomenon?
3. Technology Improvement
a. Select a technology improvement for cooking or preparing a meal. The improvement reduces the time, improves the quality, but incurs costs to implement.
b. Identify a similar scenario for manufacturing.
Explanation / Answer
Solution:
Learning Curve –
A work force improves its performance over time. This can be explained as –
Say for instance, the unskilled labour started with a new job, will take more time to complete it. But when it will keep on repeating the same job again and again, its efficiency will increase.
Suppose, unskilled labor used to take 2 hours to complete manufacture of table. Next batch would take less than 2 hours. Since, labor was in learning stage but with the time passing the labor’s performance will get better. At one point of time, it will reach its maximum efficiency level.
And learning stage will get over.
Thus, a work force improves its performance over time.
b.
It is a linear equation.
As, there are no logs or exponential powers present in the equation Y = AQb.
c.
One can expect the greatest change in Linear Curve, in the early stages of Learning phase.
d.
Learning Curve is a statistical phenonmenon, developed by statistics.
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