Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lazer Technologies Inc. (LTI) has produced a total of 20 high-power laser systems that could be used to destroy any approaching enemy missiles or aircraft.
Lazer Technologies Inc. (LTI) has produced a total of 20 high-power laser systems that could be used to destroy any approaching enemy missiles or aircraft. The 20 units have been produced, funded in part as prlvate research within the research and development arm of LTI, but the bulk of the funding came from a contract with the U.S. Department of Defense (DoD). Testing of the laser units has shown that they are effectlve defense weapons, and If redesigned to add portability and easler field malntenance, the unlts could be truck-mounted. The DoD has asked LTI to submlt a bld for 100 more units. The 20 units that LTI has bullt so far cost the following amounts and are IIsted In the order In which they were produced: Use Exhiblt 6.4 and Exhibit 6.5. a. Based on past experlence, what is the learning rate? (Do not round Intermedlate calculatlons. Round your answer to the nearest whole percent.) b. What bid should LTI submit for the new order of 100 units, assuming that learning continues? (Enter you answer In dollars, not millions of dollars. Note that the table above is In millions of dollars). c. What is the cost expected to be for the last unlt under the learning rate you estimated? (Enter you answer In dollars, not millions of dollars. Note that the table above is in millilons of dollars)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started