1. Past Performance: not correcting for weaknesses in past performance is a major trap. Specifically, what weaknesses should one look at, and try to correct in a new estimate?

2. Learning Curve: How a work force improves its performance over time.

a. According to Stewart, what are the components for a learning curve?

b. What type of equation is Y= AQb?

1) linear, 2) log-linear, 3) exponential (Explain your choice)

c. When does one expect the greatest change in a learning curve?

d. Is the learning curve always true or is it a statistical phenomenon?

3. Technology Improvement

a. Select a technology improvement for cooking or preparing a meal. The improvement reduces the time, improves the quality, but incurs costs to implement.

b. Identify a similar scenario for manufacturing.