Fountain Precision Products (FPP) manufactures high-technology measurement systems. The systems are both complex and unique in the sense that only a handful are sold, usually to a single customer's specification. The last unit of model FPP-28X sold was the eighth produced. The labor cost for that unit was $6,610.56 and required 127.4612 hours of labor. The second unit produced required 177.0000 hours of labor. Required: a. Assuming that learning has been consistent for this product, what is the rate of learning? b. Assuming that the hourly labor rate has remained the same, what was the labor cost to produce the fourth unit?

Good X (250x soy (150X, 150Y) (100X, 100Y) 150X, 250Y) IC2 Income= $2000, Py=$10, P,=$10 reome=$2000, PE10, P,=$10 Good Y O Good X is normal O Good Y is normal O Good X is inferior O Good Y is inferior

Assign the figure with the correct correlation coefficients. Possible coefficients: 0.99, 0.58, -0.10, -0.63 Graph A 14 12- 10- 14 Graph B 12- 8- 10- 8. 0- 4- -2 -4- -6- -8 0- 4 8. 14 Graph C 12- 2 Graph D 10- 8- -2- 6- -4- 4- -6- 24 -8- -10- 8 2. 642

1. A Travel-Cost Method Now it is time for your first consulting job as an environmental economist. The Forest Service would like to know whether they should preserve some national forest land, previously slated to be logged, for hiking. You are helping do a travel-cost analysis to estimate the annual benefits of hiking in this area. Survey data has been gathered from 500 hikers who visited the forest last year. This forest did not charge an entrance fee. Using a statistical technique called regression analysis, you have controlled for differences in income, employment status, age, and other important factors that might affect the number of hiking trips taken. Taking these factors into account, you have developed the following relationship: Zone 1 2 3 Population in zone 1,000 3.000 2,000 Cost Per Hiking Trip Per Person 20 40 80 Hiking Trips Taken Per Zonal Person Per Year 8 6 2 where cost includes gas, tolls, fares, hotels, entry fees, and the value of time spent traveling. a. Graph a…