12. Many manufacturing situations, for example, the production of such large and complex items as aircraft or
Question:
12. Many manufacturing situations, for example, the production of such large and complex items as aircraft or machines, exhibit a learning effect in which the production time per unit decreases as more units are produced. This is often modeled by a power curve, y = ax-b, where a and b are constants. Suppose that data on production times for the first 10 units produced were collected from a new project at Glasgow Machine Tool:
Unit Production Hours 1 3,161 2 2,720 3 2,615 4 2,278 5 2,028 6 2,193 7 2,249 8 2,268 9 1,994 10 2,000 Develop a model for estimating the power curve to minimize the sum of the squared deviations of the errors. Use nonlinear optimization to find the parameters.
Step by Step Answer:
Business Analytics Methods Models And Decisions
ISBN: 9780132950619
1st Edition
Authors: James R. Evans