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Estimating average costs per unit for a production lot A facility has produced 56 units. From the initial run it is estimated that the cost

Estimating average costs per unit for a production lot

A facility has produced 56 units. From the initial run it is estimated that the cost of the first product was $100 with a learning rate of 93%. It now intends to run a larger lot of 250 units. Estimate the average cost per unit for the second lot. What will the total cost be for the production of the 250 unit lot?

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