Quantitative Methods Have Pros and Cons-Which of the Following Expressions

question 1

Multiple Choice

Quantitative methods have pros and cons-which of the following expressions best encapsulates the importance of the quality of data that you collect and analyze?

• A) "garbage in, garbage out"
• B) "There are three types of lies: lies, damn lies, and statistics."
• C) "The data will tell you anything if you torture them long enough."
• D) "Facts are stubborn things, but statistics are pliable."

---

Definitions:

Product-level Costs

Costs that can be directly attributed to a specific product, including materials and direct labor costs.

Units

Basic measures or quantities used to express a variable, item, or the extent of a service or product used in transactions.

Batches

Groups of items or goods processed or produced at the same time within a manufacturing operation.

Overhead Costs

Indirect expenses related to the day-to-day running of a business, such as rent, utilities, and administrative costs, which are not directly tied to production or sales.