2.99 See Answer

Question: Winkleman Associates requires prospective recruits to take


Winkleman Associates requires prospective recruits to take an examination that includes both computational and essay questions. It employs contract workers to grade the exams. Hiring of Winkleman recruits takes place four times per year, and a different exam is used each time. The contract workers are paid $25 per hour to grade the exams.
The last worker to grade exams graded 16 complete exams. A Winkleman analyst, who is interested in learning curves, estimated that the worker exhibited an 80 percent learning rate. The worker was paid $204.80 for the last exam (the 16th) that was graded.
Required
a. Based on the estimated rate of learning, how long did it take the worker to grade the first exam?
b. What is the percentage of the cost of the 16th exam to the cost of the 1st exam?


2.99

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