Managers use cost estimation to measure a relationship based on data from past costs.

Name: Managers use cost estimation to measure a relationship based on data from past costs.
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Managers use cost estimation to predict future costs based on data from past costs. It involves studying the cost behavior of a firm and classifying costs into fixed and variable categories. This information is used to develop cost estimates that can be used in budgeting, forecasting, and decision-making processes.

Managers Use Cost Estimation to Measure a Relationship Based on Data