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2- (20 pts.) The direct labor cost of making airplanes decreases with repetition (learning curve). As a result, the cost of manufacturing of airplanes depend
2- (20 pts.) The direct labor cost of making airplanes decreases with repetition (learning curve). As a result, the cost of manufacturing of airplanes depend on the unit production number (first, fifth, 10th, . 50th, etc.). The following data shows the direct labor cost for selected production numbers. Airplane # (X) 10 160 32a 640 130a 200 300 400 500a 600a Labor Time (Y) 7300 65003 5400 5000 4500 4200 4100 35000 32000 3000 2800 8 a- - Using Excel graphs, find linear, power, exponential, and logarithmic fits for this dataset. Make sure to include equations and R for each fit. Insert all graphs here and select the best model based on R2. Rank the models based on the value of R2. Which model fit is the best? b- If an airplane manufacturer charges $150 per hour for direct labor cost, find the total labor hours. and labor cost if a small airliner orders -10 airplanes (#700 to .709).I
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