The document discusses four methods for estimating cost functions: the industrial engineering method analyzes the relationship between inputs and outputs physically; the conference method bases estimates on analysis and opinions from various departments; the account analysis method classifies cost accounts as variable, fixed, or mixed based on qualitative analysis; and quantitative analysis methods use significant historical data.
Test Bank For Work in The 21st Century An Introduction To Industrial and Organizational Psychology 6th Edition Frank J Landy Jeffrey M Conte Isbn 9781118976272 Download
The document discusses four methods for estimating cost functions: the industrial engineering method analyzes the relationship between inputs and outputs physically; the conference method bases estimates on analysis and opinions from various departments; the account analysis method classifies cost accounts as variable, fixed, or mixed based on qualitative analysis; and quantitative analysis methods use significant historical data.
The document discusses four methods for estimating cost functions: the industrial engineering method analyzes the relationship between inputs and outputs physically; the conference method bases estimates on analysis and opinions from various departments; the account analysis method classifies cost accounts as variable, fixed, or mixed based on qualitative analysis; and quantitative analysis methods use significant historical data.
The document discusses four methods for estimating cost functions: the industrial engineering method analyzes the relationship between inputs and outputs physically; the conference method bases estimates on analysis and opinions from various departments; the account analysis method classifies cost accounts as variable, fixed, or mixed based on qualitative analysis; and quantitative analysis methods use significant historical data.
The industrial engineering method estimates cost functions:
a. based on analysis and opinions gathered from various departments b. quickly while incurring little cost c. using qualitative rather than quantitative analysis d. by analyzing the relationship between inputs and outputs in physical terms Answer: d Difficulty: 2 Objective: 3 Terms to Learn: cost estimation, industrial engineering method
2. The conference method estimates cost functions:
a. using quantitative methods that can be very time consuming and costly b. based on analysis and opinions gathered from various departments c. using time-and-motion studies d. by mathematically analyzing the relationship between inputs and outputs in physical terms Answer: b Difficulty: 2 Objective: 3 Terms to Learn: conference method, cost estimation
3. The account analysis method estimates cost functions:
a. by classifying cost accounts as variable, fixed, or mixed based on qualitative analysis b. using time-and-motion studies c. at a high cost, which renders it seldom used d. in a manner that cannot be usefully combined with any other cost estimation methods
a. which depend on the experience and judgment of the analyst for accuracy b. based on analysis and opinions gathered from various departments c. using significant amounts of historical data d. using the pooling of knowledge from each value chain function
Test Bank For Work in The 21st Century An Introduction To Industrial and Organizational Psychology 6th Edition Frank J Landy Jeffrey M Conte Isbn 9781118976272 Download