Answer the following questions using the information below:
Miller's Good Value Appliance Store is a small company that has hired you to perform some management advisory services. The following information pertains to 2011 operations.

-Which cost estimation method is being used by Miller's Good Value Appliance Store?
A)the account analysis method
B)the conference method
C)the quantitative analysis method
D)the industrial engineering method

Question

Answer the following questions using the information below:
Miller's Good Value Appliance Store is a small company that has hired you to perform some management advisory services. The following information pertains to 2011 operations.
 
-Which cost estimation method is being used by Miller's Good Value Appliance Store?
A)the account analysis method 
B)the conference method 
C)the quantitative analysis method 
D)the industrial engineering method

Quizplus · Accepted Answer

The information does not provide enough detail to definitively determine the cost estimation method being used. However, based on the limited information provided, the most likely method being used is the account analysis method, which involves analyzing each account in the company's financial statements to determine how costs are related to specific factors. The conference method involves bringing together experts to discuss and estimate costs, the quantitative analysis method involves using statistical techniques to estimate costs, and the industrial engineering method involves analyzing the production process to determine how much resources are needed. None of these methods are mentioned in the information, so they are unlikely to be the method being used.

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