Question

Which of the following statements is true? (A) A test with a high cost may also be high value. (B) A test with a low cost is always of low value. (C) Cost and value have the same definition. (D) None of the above

Answer 1

Answer:

A) A test with a high cost may also be of high value.

Explanation:

A test's cost add up to the time spent in preparing that test. S much time might have really been spent on it like researching, sitting, time spent, revaluation of the test, as well as other contributions made for the execution of that test. The value of the test can be evaluated to the resources spent for the test. When a test has a high cost, it may also have a high value depending on some variables relating to both the cost of the test as well as its value. Also, every individual's primary objective is usually cost minimization and profit maximization in every thing he does irrespective of type or structure.