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A company began producing a new product in batches four months ago. When production commenced the first batch took 60 hours. The actual learning rate observed is 95%. What will be the average production time per batch for the first 16 batches? a. 48.870 hours b. 46.427 hours c. 54.150 hours d. 51.443 hours

A company began producing a new product in batches four months ago. When production commenced the first batch took 60 hours. The actual learning rate observed is 95%. What will be the average production time per batch for the first 16 batches? a. 48.870 hours b. 46.427 hours c. 54.150 hours d. 51.443 hours

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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A company began producing a new product in batches four months ago. When production commenced the first batch took 60 hours. The actual learning rate observed is 95%. What will be the average production time per batch for the first 16 batches?
a.
48.870 hours
b.
46.427 hours
c.
54.150 hours
d.
51.443 hours
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