Life-Cycle Cost Management Consists of

question 100

Multiple Choice

Life-cycle cost management consists of

• A)actions taken to enable a product to be designed, developed, produced, marketed, distributed, operated, maintained, serviced, and disposed of in order to maximize profits.
• B)actions to extend the life of a product through design, development, production, and maintenance.
• C)actions that focus on minimizing the cost of developing, designing, producing, distributing, operating, servicing, and disposal of a product.
• D)actions taken to design, develop, test, market, distribute, maintain, service, and dispose of a product to maximize revenues.

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Definitions:

Inductive Logic

A reasoning process that involves making generalizations based on observations of specific instances.

Qualitative

Involving research methods that collect non-numerical data to understand concepts, thoughts, or experiences through analysis of textual, visual, or audio data.

Quantitative

Relating to, measuring, or measured by the quantity of something rather than its quality.

Hypothesis

A tentative statement about a particular relationship (between objects, people, or groups of people) that can be tested empirically.