The file P02_41.xlsx contains the cumulative number of bits (in trillions) of DRAM (a type of computer memory) produced and the price per bit (in thousandths of a cent). a. Fit a power curve that can...

The file P02_41.xlsx contains the cumulative number of bits (in trillions) of DRAM (a type of computer memory) produced and the price per bit (in thousandths of a cent).

a. Fit a power curve that can be used to show how price per bit drops with increased production. This relationship is known as the learning curve.

b. Suppose the cumulative number of bits doubles. Create a prediction for the price per bit. Does the change in the price per bit depend on the current price?