Learning curves can be applied to a variety of purposes internal to a firm, including:
A) labor forecasting.
B) scheduling.
C) establishing costs.
D) establishing budgets.
E) all of these

Question

Quizplus · Accepted Answer

Learning curves can be applied to all these purposes within a firm, including labor forecasting, scheduling, establishing costs, and establishing budgets. The concept of learning curves helps in predicting how much time and effort is required to complete a task or a project by using historical data and past experiences in a particular skill or activity. Thus, by applying learning curves, the firm can estimate labor requirements, plan schedules, establish realistic costs, and budgets.

Learning Curves Can Be Applied to a Variety of Purposes