The Project Cost Estimate Is Allocated to

question 23

Multiple Choice

The project cost estimate is allocated to

• A) the various work packages in the project work breakdown structure.
• B) the resources in the project.
• C) the committed costs in the project.
• D) the stakeholders.

Understand the concept of correlation and differentiate between positive, negative, and no correlation.

Determine the strength of a correlation using correlation coefficients.

Recognize the application and interpretation of the coefficient of determination.

Identify and apply the appropriate correlation coefficient type (Pearson, Spearman, Point Biserial, Phi) based on the level of measurement of variables.

---

Definitions:

Commercial Space

Commercial Space generally refers to buildings or land intended for use in commerce or business activities, such as retail stores, offices, or factories.

Fifth Amendment

Refers to a part of the U.S. Constitution that protects individuals against self-incrimination, ensures due process of law, and provides protections against double jeopardy among other rights.

Caveat Emptor

A Latin term meaning "let the buyer beware," indicating that the buyer is responsible for checking the quality and suitability of goods before a purchase is made.

Let the Buyer Beware

A traditional caveat in commerce, indicating that the buyer assumes the risk regarding the quality and condition of the product being sold.