In which step of the decision process do managers use past data to estimate the relationship of cost drivers compared to costs?
A)Step 1: Identify the Problem and Uncertainties.
B)Step 2: Obtain Information.
C)Step 3: Make Predictions about the Future.
D)Step 4: Make Decisions by Choosing among the Alternatives.
E)Step 5: Implement the Decision,Evaluate Performance,and Learn.

Question

Quizplus · Accepted Answer

In step 3, managers use past data to estimate the relationship of cost drivers compared to costs, and make predictions about the future based on that relationship.

In Which Step of the Decision Process Do Managers Use