Question
Part 4: Total Production Cost 0.0/2.0 points (graded) Some customers in KNIT'ting Industries' B2B business can order larger quantities of colored wool. For this special
Part 4: Total Production Cost
0.0/2.0 points (graded)
Some customers in KNIT'ting Industries' B2B business can order larger quantities of colored wool. For this special order product the company assumes that economies of scale are present. The operations department head, Douglas, tells you that they currently estimate the total production cost TC(q) to produce an order of size q with the formula:
TC(q)=a*q^b
where a>0 e b>0
The operations department tells you that the total cost of a B2B-order is TC=427 if the order volume is q=17 . They assume that the parameter a=26.
Find the value of b parameter .
Round your result down to three decimal digits. For example, if your result is 2.3215 put in 2.322
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