First step in estimation of cost function by using quantitative analysis is to

A. choose price estimation method

B. choose dependent variable

C. choose independent variable

D. choose cost estimation method

Answer: Option B

Solution(By Examveda Team)

First step in estimation of cost function by using quantitative analysis is to choose dependent variable. A dependent variable is what you measure in the experiment and what is affected during the experiment. The dependent variable responds to the independent variable. It is called dependent because it "depends" on the independent variable.