Which of the Following Statements About the Cost Estimation Methods

question 182

Multiple Choice

Which of the following statements about the cost estimation methods is FALSE?

• A)With the conference method, the accuracy of the cost estimates largely depends on the accuracy and details of the inputs.
• B)The methods require more historical data than most quantitative analysis.
• C)The methods are not mutually exclusive.
• D)There are four methods generally used for cost estimation.
• E)Many organizations use a combination of the approaches.

---

Definitions:

Broad Categories

General divisions or classes into which items, ideas, or subjects can be grouped based on shared characteristics or qualities.

Firm

A business organization, such as a corporation or partnership, engaged in industrial, commercial, or professional activities.

Interests

Preferences or hobbies that attract an individual's attention and enthusiasm.

Buyers

Individuals or organizations that purchase goods or services for personal use, resale, or production purposes.