A major problem still confronting molecular simulations is how to,determine time-correlation functions of many-body quantum systems. In this paper the results of the,maximum entropy (ME) and singular value decomposition (SVD) analytic continuation methods for calculating real time quantum dynamics from path integral Monte Carlo calculations of imaginary time time-correlation functions are compared with analytical results for quantum mechanical vibrational relaxation processes. This system studied is an exactly solvable system : a harmonic oscillator bilinearly coupled to a harmonic bath. The ME and SVD methods are applied to exact imaginary-time correlation functions with various level of added random noise, and also to imaginary-time data from path integral Monte Carlo (PIMC) simulations. The information gathered in the present benchmark study is valuable for the application of the analytic continuation of PIMC data to complex systems.