learning curve
learning curve A technique that takes into account the reduction in time taken to carry out production as the cumulative output rises. The concept is based on a doubling of output, so that a 70% learning curve means that the cumulative average time taken per unit falls to 70% of the previous cumulative average time as the output doubles. The cumulative average time per unit is measured from the very first unit produced. The formula for the learning curve is:
where y is the cumulative average time per unit of production, a is the time taken to produce the first unit, x is the cumulative number of units manufactured to date, and b is the learning coefficient.
- ARD
- ariary
- arithmetic mean
- ARM
- arm’s length
- ARR
- arrangement
- articled clerk
- articles of apprenticeship
- articles of partnership
- articulated accounts
- artificial person
- ASA
- ASA model
- ASB
- ASCII
- ASEAN
- A shares
- ASP
- aspirational groups
- assay
- assented stock
- assertiveness training
- assessment
- assessment centre