'Quantitative analysis methods' estimate cost functions:
A)based on analysis and opinions gathered from various departments.
B)which depend on the experience and judgement of the analyst for accuracy.
C)using the pooling of knowledge from each value chain function.
D)using significant amounts of historical data.

Question

Quizplus · Accepted Answer

Quantitative analysis methods rely on the use of data and historical information to estimate cost functions. This means that the most accurate cost function estimates will be based on a significant amount of historical data. Therefore, choice D is the best answer. The other choices are not accurate as they do not include the use of data or historical information in the cost function estimation process.

'Quantitative Analysis Methods' Estimate Cost Functions