Which one of the following cost estimation methods is the most accurate?
A) Regression analysis.
B) Visual fit.
C) Subjective forecasting.
D) The high-low method.

Question

Quizplus · Accepted Answer

Regression analysis is generally considered the most accurate method for cost estimation as it uses mathematical formulas and statistical analysis to identify the relationships between independent and dependent variables. This allows for more precise predictions of cost estimates based on historical data and other factors that may impact future costs. The other methods listed, such as visual fit and subjective forecasting, rely more heavily on personal judgments and may not be as accurate as regression analysis. The high-low method is also a viable option but is generally less accurate and more simplistic than regression analysis.

Which One of the Following Cost Estimation Methods Is the Most