a)
To determine: The time taken for the second return.
Introduction:
Learning curve:
Learning curve is based on the premise that when a person is repeating a task or job again and again, the performance of the person on that job or task will improve. It will depict relationship between cost and output over a definitive period of time.
b)
To determine: The time taken for the fourth return.
Introduction:
Learning curve:
Learning curve is based on the premise that when a person is repeating a task or job again and again, the performance of the person on that job or task will improve. It will depict relationship between cost and output over a definitive period of time.
c)
To determine: The time taken for the eighth return.
Introduction:
Learning curve:
Learning curve is based on the premise that when a person is repeating a task or job again and again, the performance of the person on that job or task will improve. It will depict relationship between cost and output over a definitive period of time.
Want to see the full answer?
Check out a sample textbook solutionChapter E Solutions
EBK OPERATIONS MANAGEMENT
- RASM is defined as Revenue per Available Seat Mile and is a common metric to understand flight performance across different routes. Based on the chart below, what would you expect to see in March on a YoY basis? 20 18 16 14 12 10 8 6 4 2 0 Jan-18 Feb-18 Mar-18 Apr-18 May-18 a) Weaker performance YoY b) Stronger performance YoY c) Identical performance YoY d) There are no indicators of performance Jun-18 RASM Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19arrow_forwardBusiness Process Re-Engineering (BPR) is a valuable tool to help organizations assess the probability of process change. Why might this be an important concept for HRM professionals introducing new technology? How might you apply the BPR process to an HRM office that currently only has an employee database and no other automated HRM functions? The HRM director states the business is simply too small (1,000 employees). Build your business case.arrow_forwardAssume that a customer in the small contractor target market segment buys an electric drill on average every two years (or every 0.5 year) for $200, when the gross margin on the drill averages 20 percent. Questions 1. What is the value of a loyal customer (VLC) if the customer retention rate is 50 percent? Round your answer to the nearest cent. $ 2. What is the value of a loyal customer (VLC) if the customer retention rate increases to 75 percent? Round your answer to the nearest cent. $ 3. What is a 1 percent change in market share worth to the manufacturer if it represents 150,000 customers? Round your answers to the nearest dollar. 50 percent customer retention rate case: $ 75 percent customer retention rate case: $ 4. What do you conclude? If customer retention can be increased from 50 to 75 percent through better value chain performance, the economic payoff is _________doubledquadrupled.arrow_forward
- The service times for a new data entry clerk have been measured and sequentially recorded as shown below. Report Time (minutes) Report Time (minutes) 1 66 45 2 56 7 44 3 53 8 41 4 48 5 47 The doubling rate based on the given information are: (Round all numerical responses in table below to one decimal place.) Doubling Period 1 to 2 Learning Rate (%) 2 to 4 3 to 6 4 to 8 a) The approximate learning curve rate = % (round your response to the nearest whole number). b) Using an 85% learning curve rate and the above times, the time to complete report number 48 = minutes (round your response to two decimal places).arrow_forwardAn organization’s most important resource is the people who work in that organization. The quality of the people who work in an organization, that is, the overall value they bring to the organization, is based on the ability of the Human Resources Department to find the right people, bring them into the organization, get them in the right positions, support their continued growth and professional development, and to ensure they are fairly compensated in return for the investment of their skill set into the organization. Explain the HRM process. In particular explain why each stage in the process is critical, what happens if any part of the process is neglected, and what happens when the HRM process works well and consistently.arrow_forward3-1 Assuming that the data given below is information in the learning curve for an employee in producing a particular product. Time (Hour) Unit # 4 107 8 80 12 68 14 64 16 60 20 55 24 51 28 48 30 46 a- Do you think that this employee can meet a demand of 10 units in three months if he works 8 hours a day? b- If not, how many units he can produce within 3 months. c- How should the learning curve of the employee to produce 10 units within 4 months 3-2 A candidate for mayor in a small town has allocated $40,000 for last-minute advertising in the days preceding the election. Two types of ads will be used: radio and television. Each radio ad costs $200 and reaches an estimated 3,000 people. Each television ad costs $500 and reaches an estimated 7,000 people. In planning the advertising campaign, the campaign manager would like to reach as many people as possible, but she has stipulated that at least 10 ads of each type must be used. Also, the number of radio ads must be at least as great as…arrow_forward
- You have been hired as a consultant for a mid-size company that produces shoes for adults. The company has a high production capacity but possesses a large number of untrained workers. The region in which the company operates consists of a few small companies that sell similar products. A recent survey revealed that there is a growing demand for footwear for children. Required: In your capacity a consultant, outline the factors from the scenario above that you would consider in each stage of the company’s corporate plan.arrow_forwardOne reason why firms would choose a salary system rather than a commission compensation system is that their employees might become less concerned about the quality of their work. O True O Falsearrow_forwardCycle-Time Analysis Variability is often considered to be the enemy of efficient and effective management. One approach to managing cycle times to improve delivery dependability is to map out the associated activities in a value-added process using a process flow diagram (see diagram in problem þelow). This allows the manager to identify and measure the specific activities so that the management process can be made more effective. The following problem illustrates the use of cycle time analysis. Problem Company X has recently completed an analysis of its primary value-added process. As part of this analysis, the major flows have been mapped such that the process has been broken down into 10 major activities. To better understand the process, the times to complete,each of these activities have been carefully monitored over the past month. The results of this monitoring follow. (3:3) (1:0.4) (10:6) (5:2.8) Activity 4 Standard Mean Deviation Activity 5 Activity 6 Activity 7 Activity 8 2.4…arrow_forward
- MBO is an effective control mechanism because standards are established to measure performance variances are established to measure performance budgets are established to measure performancearrow_forwardAn enterprise has 120 employees as of January 30, 2020. From the New Year to June 30, 2020, 16 people left the job, while the business had 144 employees at that time.According to the relevant data, what is the workforce turnover rate for the first 6 months of 2020?A) 10%B) 12.5%C) 15%D) 22.73%arrow_forwardThe manager of a welfare office estimates that her employees are idle 25% of time. She would like to take a work sample that is accurate within +/-3% and wants to have 95.45% confidence results.arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill EducationOperations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningProduction and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.