You go to the library to study for the OM exam. You will do as many problems as you can in 3 hours of studying, taking no breaks and having no interruptions. You timed the first problem you did and found it took 14 minutes. You decide that there is a 90% learning rate here that will continue with the remaining problems. Assume that if there were no learning effect, each problem would take the same amount of time.
a. How much time will it take to do the third problem?
b. Approximately how many problems will you be able to complete in the 3 hours? Assume the learning effect will continue, and you take no breaks. You must show your work for full credit.
c. At the conclusion of the 3 hour study session, you see a friend that has also been studying for the exam. Your friend has completed 25 problems in the same 3 hours, with the first problem taking 14 minutes. What was your friend's approximate learning percentage? You must show your work for full credit.
d. Give an example from our own life that illustrates the concept of the learning curve. Please do not use the example of studying for or taking this or any other education course. Present the situation, discuss why you believe it illustrates a learning effect, and discuss how this illustrates the key concepts of learning curves.