in the bottom-up approach basically uses historical data from similar engineering projects to estimate the costs, revenues, and other data for the current project Select one: O True O False
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- Learning Curves The Air Force Museum Foundation has commissioned the purchase of 16 FourF Sixes, pre–World War II aircraft. They will be built completely from scratch to the exact specifications used for the originals. As further authentication, the aircraft will be made using the technologyand manufacturing processes available when the originals were built. Each of the 16 airplanes will beflown to Air Force and aviation museums throughout the country for exhibition. Aviation enthusiastscan also visit the production facility to see exactly how such aircraft were built in 1938.Soren Industries wants to bid on the aircraft contract and asked for and received certain costinformation about the Four F Sixes from the Air Force. The information includes some of the oldcost data from the builders of the original aircraft. The available information is for the total accumulated time as the 1st, 8th, and 32nd aircraft, respectively, were completed. The data reflect a learningrate of 90%.[LO…You are trying to forecast the future production cost in your department. You observed that in the last seven months your costs were as follows: Month 1 2 3 4 5 6 7 Cost $1000 900 846 810 783 762 744 Moreover, you discovered that your department has a learning curve of 90% with regard to cutting cost, and improving productivity. (a) Forecast the cost in the 8th month. (b) The planning department has announced that the forecasted cumulative cost of the next planning horizon starting from month 8 will be $4207. What is the length of the next planning horizon? (c) If the forecasting error variance of the last 7 months is 17.5, can you estimate the MAD of the last 7 months? If so, what is its value?A contractor is preparing a bid to install swimming pools at a new housing addition. The estimated time to build the first pool is 38 hours. The contractor estimates an 80 percent learning rate. Using POM for Windows or OM Explorer, how long do you estimate the time required to install the sixth pool? The time required to install the sixth pool is enter your response herehours. (Enter your response rounded to two decimal places.) Part 2 What is your estimate of the total time for all six pools? The total time for all six pools is enter your response here hours. (Enter your response rounded to two decimal places.)
- 3-1 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 $500 and reaches an estimated 7,000 people. In planning the advertising campaign, the campaign manager would like to reach as many people as possible, but she has stipulated that at least 10 ads of each type must be used. Also, the number of radio ads must be at least as great as…Chapter 10: The Payoff of IDIC: Using Mass Customization to Build Learning Relationships How will Lego practice mass customization? To think about mass customization for Lego, consider: Who are the customer types for Lego? (Think B2B.) Who are the MVCs? The MGCs? The BZs? (See Chapter 5.) What are customers buying when they buy Lego sets? (It’s not “toy building bricks.”) If customers buy packages of Legos to resell, what else do they need? What is their expanded need set? What is the opportunity to lock customers into a Learning Relationship and build share of customer for Lego? Is there any opportunity, ever, at all, for Lego to build Learning Relationships with any end user? How and why?NUBD Company is planning to introduce a new product with an 85 percent learning rate for production for batches of 1,000 units. The variable labor costs are P30 per unit for the first 1,000-unit batch. Each batch requires 100 hours. There are P10,000 in fixed costs not subject to learning. What is the cumulative total time (labor hours) to produce 2,000 units based on the cumulative average-time learning curve?
- Exercise(1):Given =85% _1=120hrs Labor cost =17$ per hour If the company policy is to charge the customer 3 times the Labor cost 1-Find average price per unit for the first 10 units Using Learning Curve Table 2-Find average price per Unit for two cases :(a)the first 10 units if LR=70% and (b)the first 5 units if LR=90%5. Your company is preparing a project bid. The project includes assembling 5 prefabricated buildings. Your boss has asked you to estimate the labor cost for this part of the project. She said to base your calculation on the following: (a) 85% learning curve model; (b) labor requirement of 320 hours for the first unit assembled; (c) Labor cost of $35 per hour. Calculate the following (fill in the boxes and show your calculations on the back of the test). ΣΤ Total Labor T1 T2 T3 T4 T5 (hours) Cost ($) Hours Gure senior year of rt to complete yourEffectiveness focuses on progressing from one activity to another without delay or without wasting money or resources. Group of answer choices True False
- You need to develop a labor time estimate for a customer order of 50 network installations. It is estimated that the first installation will require 75 labor hours and a learning curve of 85 percent is expected. a. How many labor hours are required for the 25th installation?b. How many labor hours are required to complete all 50 installations? c. If the average labor cost is $28 per hour, what is the total labor cost for installing all the networks?d. How many workers are needed to complete the job in a week? Assuming each worker works 8 hours per day 5 days per week. Show breakdown of workNational Company is planning to introduce a new product with an 85 percent learning rate for production for batches of 1,000 units. The variable labor costs are P30 per unit for the first 1,000-unit batch. Each batch requires 100 hours. There are P10,000 in fixed costs not subject to learning. What is the cumulative average time per batch using the incremental unit-time learning curve for 2,000 units?National Company is planning to introduce a new product with an 90 percent learning rate for production for batches of 1,000 units. The variable labor costs are P30 per unit for the first 1,000-unit batch. Each batch requires 100 hours. There are P10,000 in fixed costs not subject to learning. What is the total labor cost for the cumulative total time using the incremental unit-time learning curve to produce 2,000 units?
