Value Analysis Focuses Primarily on the Examination of the Cost

question 142

True/False

Value analysis focuses primarily on the examination of the cost of products relative to design, quality, and materials used.

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Definitions:

Strength

The physical or mental capacity to exert force, resist challenges, or endure pressures.

Direction

Guidance or supervision towards a destination or in a particular course of action; also, the path that must be taken to reach a place.

Statistically Significant

A term indicating that the results of an analysis demonstrate a likelihood that the observed effects or differences are not due to chance.

Sampling Variation

The variability in statistical measurements that occurs when different samples are taken from the same population.