Refer to the table below. Assume that the company involved now finds that the learning rate...

Refer to the table below. Assume that the company involved now finds that the learning rate is 92 percent, instead of 80 percent. The 92 percent learning rate coefficient is –0.120294; that is b = –0.120294 in the formula Y = aX^b.

Required:

Using the formula, Y = aX^b, compute the labor time and costs for 2 to 8 units. (Round your intermediate calculations (except for coefficient) and final answers to 2 decimal places.)

Unit Produced (X)	Labor Time Required to Produce the Xth Unit (i.e, the Last Single Unit Produced) (Y)	Cumulative Total Time in Labor Hours	Total Cost	Average Cost per Unit
1	100.00	100.00	$5,000.00	$5,000.00
2
3
4
5
6
7
8

2 decimal places required.

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Expert Solution

ekkarill92 answered 1 year ago

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