Which of the following estimation methods is used by managers to estimate cost functions on the basis of opinions about costs and their drivers of a company gathered from various departments?
A)Industrial Engineering Method.
B)Conference Method.
C)Account Analysis Method.
D)Quantitative Analysis Method.
E)Work-Measurement Method.

Question

Quizplus · Accepted Answer

The conference method involves gathering opinions from various departments within a company to estimate cost functions, which makes it the best choice for this question. The other methods listed - industrial engineering, account analysis, quantitative analysis, and work-measurement - all involve more quantitative or technical approaches to cost estimation.

Which of the Following Estimation Methods Is Used by Managers