Which cost estimation method uses a formal mathematical method to develop cost functions based on past data?
A) the cash accounting method
B) the conference method
C) the accrual accounting method
D) the quantitative analysis method

Question

Quizplus · Accepted Answer

The quantitative analysis method involves using formal mathematical models to develop cost functions based on past data. This method is more precise and accurate compared to other cost estimation methods that rely on expert judgment or simple calculations.

Which Cost Estimation Method Uses a Formal Mathematical Method to Develop