Which of the following strategies is used to deal with uncertainty related to estimating future costs?
A)Statistical analysis
B)Cost restructuring
C)Hedging
D)Insurance

Question

Quizplus · Accepted Answer

Statistical analysis can be used to analyze historical cost data and predict future costs with a certain degree of accuracy. This helps to reduce uncertainty and make more informed decisions. Cost restructuring may help reduce costs in the present, but may not necessarily address uncertainty about future costs. Hedging and insurance are risk management strategies that are not directly related to estimating future costs.

Which of the Following Strategies Is Used to Deal with Uncertainty