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(a)
The time required to build the 5th house.
![Check Mark](/static/check-mark.png)
Answer to Problem 61P
The time required to the 5th House is 2,833.65.
Explanation of Solution
Given information:
- Time required to produce 1st unit = 3500 manual labor hours
- Learning curve = 92%
- Learning Curve: The learning curve captures the relationship between the task performance and task repetition
For estimating the time for repetitive tasks is given by following formula:
Where:
TN− time required for Nth production
Tinitial − time required for 1st production
N − number of completed units
b − learning curve exponent
The learning curve exponent is calculated as
Where: LC − Learning Curve.
Calculation:
We can now calculate the value of b (using the formula 2)
Using the formula (2):
Using the formula (1):
- Calculating Time in Manual labor hours for constructing the 5th house
Conclusion:
The time required to the 5th House is 2,833.65.
(b)
The time required to build the 10th house.
![Check Mark](/static/check-mark.png)
Answer to Problem 61P
The time required to build the 10th house is 2,653.
Explanation of Solution
Given information:
- Time required to produce 1st unit = 3500 manual labor hours
- Learning curve = 92%
- Learning Curve: The learning curve captures the relationship between the task performance and task repetition
For estimating the time for repetitive tasks is given by following formula:
Where:
TN− time required for Nth production
Tinitial − time required for 1st production
N − number of completed units
b − learning curve exponent
The learning curve exponent is calculated as
Where: LC − Learning Curve.
Calculation:
We can now calculate the value of b (using the formula 2)
Using the formula (2):
Using the formula (1):
- Calculating Time in Person-hours for constructing the 10th house
Conclusion:
The time required to build the 10th house is 2,653.
(c)
The time required to build the 18th house.
![Check Mark](/static/check-mark.png)
Answer to Problem 61P
The time required to the construct the 18th house is 2472.05.
Explanation of Solution
Given information:
- Time required to produce 1st unit = 3500 manual labor hours
- Learning curve = 92%
- Learning Curve: The learning curve captures the relationship between the task performance and task repetition
For estimating the time for repetitive tasks is given by following formula:
Where:
TN− time required for Nth production
Tinitial − time required for 1st production
N − number of completed units
b − learning curve exponent
The learning curve exponent is calculated as
Where: LC − Learning Curve.
Calculation:
We can now calculate the value of b (using the formula 2)
Using the formula (2):
Using the formula (1):
- Calculating Time in Person-hours for constructing the 18th house
Conclusion:
The time required to the construct the 18th house is 2472.05.
(d)
The time required to build the 18th house with 70% learning curve.
![Check Mark](/static/check-mark.png)
Answer to Problem 61P
The time required to the 18th House with 70% learning curve is 790.65.
Explanation of Solution
Given information:
- Time required to produce 1st unit = 3500 manual labor hours.
- Learning curve = 70%
- Learning Curve: The learning curve captures the relationship between the task performance and task repetition.
For estimating the time for repetitive tasks is given by following formula:
where:
TN− time required for Nth production.
Tinitial − time required for 1st production.
N − number of completed units.
b − learning curve exponent.
The learning curve exponent is calculated as
where: LC − Learning Curve.
Calculation:
- Learning Curve - 70%
We can now calculate the value of b (using the formula 2)
Using the formula (2):
Using the formula (1):
- Calculating Time in Manual labor hours for constructing the 18th house
Conclusion:
The time required to the 18th House with 70% learning curve is 790.65.
(e)
The time required to build the 18th house with 75% learning curve.
![Check Mark](/static/check-mark.png)
Answer to Problem 61P
The time required to the 18th House with 75% learning curve is1054.55.
Explanation of Solution
Given information:
- Time required to produce 1st unit = 3500 manual labor hours
- Learning curve = 75%
- Learning Curve: The learning curve captures the relationship between the task performance and task repetition
For estimating the time for repetitive tasks is given by following formula:
where:
TN− time required for Nth production
Tinitial − time required for 1st production
N − number of completed units
b − learning curve exponent
The learning curve exponent is calculated as
where: LC − Learning Curve.
Calculation:
- Learning Curve - 75%
We can now calculate the value of b (using the formula 2)
Using the formula (2):
Using the formula (1):
- Calculating Time in Manual labor hours for constructing the 18th house
Conclusion:
The time required to the 18th House with 75% learning curve is1054.55.
(f)
The time required to build the 18th house with 80% learning curve.
![Check Mark](/static/check-mark.png)
Answer to Problem 61P
The time required to the 18th House with 80% learning curve is 1380.05.
Explanation of Solution
Given information:
- Time required to produce 1st unit = 3500 manual labor hours
- Learning curve = 80%
- Learning Curve: The learning curve captures the relationship between the task performance and task repetition
For estimating the time for repetitive tasks is given by following formula:
where:
TN− time required for Nth production
Tinitial − time required for 1st production
N − number of completed units
b − learning curve exponent
The learning curve exponent is calculated as
where: LC − Learning Curve.
Calculation:
- Learning Curve - 80%
We can now calculate the value of b (using the formula 2)
Using the formula (2):
Using the formula (1):
- Calculating Time in Manual labor hours for constructing the 18th house
Conclusion:
The time required to the 18th House with 80% learning curve is 1380.05.
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Chapter 2 Solutions
Engineering Economic Analysis
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
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