Flashcards in Chapter 11 - Quantitative analysis Deck (4)
What states that as cumulative output doubles, the cumulative average time per unit falls to a fixed percentage (the 'learning rate') of the previous average time.
What are the four things that will increase the likelihood of the learning curve model?
-Product is labour intensive
-Product is new
-Product is complex
-Product is repetitive with no breaks in production.
What is the formula for the learning curve
Y = ax^b