The learning effect question help
1. Morris Aviation has developed a new airplane. The cost of building the first model was $2million. All manufacturing costs of the plane are expected to follow a 90% learning curve.
c. Given that the firm has already built 32 planes, what will be the total cost to build an additional 32 planes?
So, I used to formula Y= aX^b
And I did 2 x 64^-0.152 = £1.06m to get the total average cost of 64 planes
And I did 2 x 32^-0.152 = £1.18 to get the total average cost of 32 planes.
So my answer was £0.12m ( but I don't think its right )
c. Given that the firm has already built 32 planes, what will be the total cost to build an additional 32 planes?
So, I used to formula Y= aX^b
And I did 2 x 64^-0.152 = £1.06m to get the total average cost of 64 planes
And I did 2 x 32^-0.152 = £1.18 to get the total average cost of 32 planes.
So my answer was £0.12m ( but I don't think its right )
(edited 11 months ago)
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