What Is the Cost Variance for a Project That Has

question 79

Multiple Choice

What is the cost variance for a project that has a TBC = $50,000, a CEV = $25,000, a CAC = $20,000, and CBC = $22,000.

• A) CV = - $2,000
• B) CV = - $5,000
• C) CV = $5,000
• D) CV = $2,000

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Definitions:

Dependent Variable

A variable in an experiment that is expected to change in response to changes in the independent variable.

Independent Variable

An independent variable is a variable that is manipulated or varied by the researcher to investigate its effect on the dependent variable in an experiment.

Dependent Variable

A variable in experimental research that is expected to change as a result of manipulations of the independent variable.

Spurious Relationship

A relationship where two variables seem to be related to each other, but in reality, their association is caused by a third variable or by chance.