Quantitative analysis methods estimate cost functions ________.
A) using the time-and-motion studies
B) based on analysis and opinions gathered from various departments
C) using a formal mathematical method to fit cost functions to past data observations
D) using the pooling of knowledge from each value chain function

Question

Quizplus · Accepted Answer

Quantitative analysis methods use a formal mathematical method to fit cost functions to past data observations. Time-and-motion studies may be used in gathering data, but they are not the method of estimating cost functions. Analysis and opinions from various departments and pooling of knowledge are qualitative methods, not quantitative.

Quantitative Analysis Methods Estimate Cost Functions ________