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Learning curve theory predicts that the time required to complete a repetitive task decreases with repetition. The attached file contains a sample of data
Learning curve theory predicts that the time required to complete a repetitive task decreases with repetition. The attached file contains a sample of data on the output from a new production line. For each unit in the sample we have the unit number and the time required to produce the unit. Run a regression model that estimates the natural log of the time to produce as the response, and the natural log of the unit number as the predictor. What is the forecasted time to produce unit 109? (Make sure to use the appropriate corrections) Round your answer to 2 decimal places. Learning Curve.xlsx
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