The conference method estimates cost functions ________.
A) using quantitative methods that can be very time consuming and costly
B) based on analysis and opinions gathered from various departments
C) using time-and-motion studies
D) by mathematically analyzing the relationship between inputs and outputs in physical terms

Question

Quizplus · Accepted Answer

The conference method involves gathering insights and opinions from various departments within an organization to estimate cost functions. This approach relies on the collective expertise and experience of the team rather than solely on quantitative or mathematical analyses.

The Conference Method Estimates Cost Functions ________