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Which among the following information is required for a good estimation?
I. Availability of products
II. Sources of production, vendor selection
III. New products and their quality
IV. Prices and the discounts provided for each product
I. Availability of products
II. Sources of production, vendor selection
III. New products and their quality
IV. Prices and the discounts provided for each product
- a)I and II only
- b)II, III and IV only
- c)I, II, III and IV
- d)only IV
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Which among the following information is required for a good estimatio...
Estimation (or estimating) is the process of finding an estimate, or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available.
Most Upvoted Answer
Which among the following information is required for a good estimatio...
Key Information Required for a Good Estimation:
Availability of Products
- Knowing the availability of products is crucial for estimation as it helps in determining the quantity that can be procured within a given time frame.
Sources of Production, Vendor Selection
- Understanding the sources of production and selecting reliable vendors is important for estimating costs accurately and ensuring timely delivery of products.
New Products and Their Quality
- Being aware of new products and their quality is essential as it affects the pricing and demand, which in turn impacts the estimation of costs.
Prices and Discounts Provided for Each Product
- Knowing the prices of products and the discounts offered by vendors is necessary for calculating the overall cost and determining the feasibility of the estimation.
Explanation:
All the information mentioned in the options - availability of products, sources of production, vendor selection, new products and their quality, prices, and discounts provided for each product - are crucial for making a good estimation. Each piece of information plays a significant role in determining the overall cost, feasibility, and accuracy of the estimation process. Therefore, option C - I, II, III, and IV - is the correct choice as all the mentioned factors are required for a comprehensive estimation.
Availability of Products
- Knowing the availability of products is crucial for estimation as it helps in determining the quantity that can be procured within a given time frame.
Sources of Production, Vendor Selection
- Understanding the sources of production and selecting reliable vendors is important for estimating costs accurately and ensuring timely delivery of products.
New Products and Their Quality
- Being aware of new products and their quality is essential as it affects the pricing and demand, which in turn impacts the estimation of costs.
Prices and Discounts Provided for Each Product
- Knowing the prices of products and the discounts offered by vendors is necessary for calculating the overall cost and determining the feasibility of the estimation.
Explanation:
All the information mentioned in the options - availability of products, sources of production, vendor selection, new products and their quality, prices, and discounts provided for each product - are crucial for making a good estimation. Each piece of information plays a significant role in determining the overall cost, feasibility, and accuracy of the estimation process. Therefore, option C - I, II, III, and IV - is the correct choice as all the mentioned factors are required for a comprehensive estimation.
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Which among the following information is required for a good estimation?I. Availability of productsII. Sources of production, vendor selectionIII. New products and their qualityIV. Prices and the discounts provided for each producta)I and II onlyb)II, III and IV onlyc)I, II, III and IVd)only IVCorrect answer is option 'C'. Can you explain this answer?
Question Description
Which among the following information is required for a good estimation?I. Availability of productsII. Sources of production, vendor selectionIII. New products and their qualityIV. Prices and the discounts provided for each producta)I and II onlyb)II, III and IV onlyc)I, II, III and IVd)only IVCorrect answer is option 'C'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about Which among the following information is required for a good estimation?I. Availability of productsII. Sources of production, vendor selectionIII. New products and their qualityIV. Prices and the discounts provided for each producta)I and II onlyb)II, III and IV onlyc)I, II, III and IVd)only IVCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which among the following information is required for a good estimation?I. Availability of productsII. Sources of production, vendor selectionIII. New products and their qualityIV. Prices and the discounts provided for each producta)I and II onlyb)II, III and IV onlyc)I, II, III and IVd)only IVCorrect answer is option 'C'. Can you explain this answer?.
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