Value Analysis Has the Greatest Potential for Savings for Items

question 100

Multiple Choice

Value analysis has the greatest potential for savings for items which have:

• A)low cost per unit.
• B)low annual cost-volume.
• C)high cost per unit.
• D)high annual usage.
• E)high annual dollar-volume.

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Definitions:

Ordered Arrangements

Refers to the organization of elements in a specific sequence where the order of these elements is important.

Probability

An estimation of the chances that an event will transpire, articulated as a number from 0 to 1.

Statistician

A professional who applies statistical theories and methods to collect, review, analyze, and draw conclusions from data.

Sample Information

The data and characteristics collected from a subset of a population, used to make inferences or predictions about the overall population.