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Create a Learning Curve Calculator similar to the one shown from the video Learning Curve Calculator
(Links to an external site.)
[Video, 25 min 24 sec].
Create a graph of Unit Cost versus Unit Number (displaying Learning Rate) for an initial unit cost of $100 and a production run of 1,000 units. Learning rates should vary from 60
% to 100
% and should use increments of 5
%. Ensure you label the x- and y-axis and provide a graph title. The graph should be in its own worksheet. For help with moving the graph to a new sheet, go to How to Move a Chart onto a New Sheet in Excel
(Links to an external site.).
Using the same data from question 2 (above), graph the Cumulative Total Cost versus Unit Number. Select two learning rates (Option A and Option B). Answer the following questions:
If each 5
% increment of learning rate costs $1000, which option (A or B) would result in a low cost (Cumulative cost for 1,000 unit run added to the learning rate cost)?
Does your answer change if your production run is 50 units and the learning rate cost is a one-time cost? Explain why or why not.
Explain how you could use the PDCA cycle to reduce the Cumulative Total Cost. What are the
to reducing Cumulative Total Costs?
Note: Please ensure you submit your answers to the above questions and your MS Excel Learning Curve Calculator with all of your work (each problem should be its own worksheet). You can label each worksheet based on problem number (i.e. – “M2A2 Problem 2”). Please support your written answers and cite in APAformat.
Compose your work in a .doc or .docx file type using a word processor (such as Microsoft Word, etc.)