Explain how learning curves might be applied in a bid preparation application
What will be an ideal response?
Learning curves can determine the reduction in labor and/or materials required to produce a specified number of units. Knowing these cost components, managers are better prepared to determine what to bid and when to promise finished goods.
You might also like to view...
The psychological bias known as illusion of control refers to
A. a decision bias influenced by the way in which a problem or decision alternative is phrased or presented. B. a belief that one can influence events even when one has no influence over what will happen. C. a bias weighting short-term costs and benefits more heavily than longer-term costs and benefits. D. a condition that occurs when a decision-making group loses sight of its original goal and a new, less important goal emerges. E. a phenomenon that occurs in decision making when group members avoid disagreement as they strive for consensus.
In a database, a key is a column or group of columns that identifies a unique row in a table
Indicate whether the statement is true or false