Given the initial cost of $1,000 determine the Leaming Rate (LR) that \"best fit

Question

Given the initial cost of $1,000 determine the Leaming Rate (LR) that "best fits" the actual observed data in GREY Fill by changing the LR value in YELLOW Fill/RED Text (15) What is the LR Value in cell with YELLOW Fill/RED Text that best fits the "Actual" data observed in GREY Fill? Refer to Chart A for initial visual indicators (5) If employee turnover significantly increases to the point few employees ever reach full efficiencies what do you suspect will happen to the observed learning rate for your company? Will it drift towards 99% or towards 85%? Explain in less than 30 words. Initial Cost estimated at LR $1000 95.00%! Initially set to 0.95 b=| -0074000581 | 0.01449957 | 0.234465254 99% 85% Test LRI Actual Predicted LR LR too low LR too high 95.00% Unit 10 $667.67 $843.33 20 $591.22 $801.17 30 $550.63 $777.49 40 $523.53 $761.11 50 $503.43 $748.64 60 $487.58 $738.61 70 $474.57 $730.23 80 $463.59 $723.05 90 $454.10 $716.78 100 $445.79 $711.21 $967.16 $476.51 $957.49 $381.21 $951.88 $334.56 $947.92 $304.97 $944.86 $283.83 $942.36$267.65 $940.26 $254.69 $938.44 $243.97 $936.84$234.90 $935.41 $227.06

Explanation / Answer

a) According to theory, the time per unit decreases at a constant rate each time the output doubles
(e.g., unit 1 to 2, 2 to 4, and 3 to 6). The ratios of these observed times will give us an approximate
rate.

Unit 20/Unit 10 = 591.22/667.67 = 0.89

Unit 40/Unit 20 = 523.53/591.22 = 0.89

Hence, 89% or 90% Learning curve best fits the actual data

b) If the employee turnover significantly increases, Learning rate will shift towards 99% as there will be more new joiners who will take time to learn

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