Industrial Engineering Project
1. Calculate Total Product(TP), Average Product(AP) and Marginal Product(MP) given amounts of factors of production(Land, Labor, Capital).
2. Apply the law of diminishing marginal returns to maximize the production of a firm by efficiently allocating production resources(production team).
3.Create and accurately apply a label to the finished Discovery Tank.
Output = Discovery Tanks (Q)
inputs = Land, Labor and Capital
Labor units = person hours needed
10 discovery tanks are produced by 10 people in 2 hours. (Each hour of labor costs $10.00)
Q = 10
L = 20 person hours
AP = 10/20 = 0.5
Team with highest AP = 20/20
Team with second highest AP = 18/20
Team with third highest AP = 16/20
No demonstration of AP = 0/20
Label (10 points)
10/10 100% labels are applied according to specifications (below)
9/10 95% of labels applied according to spec
8/10 90% of labels applied according to spec
7/10 80% of labels applied according to spec
6/10 70% of labels applied according to spec
0/10 Less than 70 % of labels applied according to spec
Must be 2.25 to 2.30 inches wide. Must be 1.45 to 1.50 inches high. Must be placed on the bottom of each tank so that the entire bottom edge of the label is within 0.03 cm. The side edge of the label must be 3.9 to 4.1 cm from the right edge of the tank.
Use this jpg to create your label