Video: Learning Curve

In this lesson, Nick Palazzolo, CPA, breaks down the concept of the learning curve in a way that is both engaging and easy to understand. He illustrates how proficiency in tasks enhances over time with the example of the Saffron Company, explaining in practical terms how to apply a 60% learning curve to project the average time required to produce multiple units of a product. With simple multiplication and the power of the learning curve, Nick shows how to calculate the average time for two, four, and eight units, emphasizing the efficiency gains with the production of additional units, and rolling out the practical implications of these projections on business forecasting and planning.