Which Estimating Technique Uses a Statistical Relationship Between Historical Data

question 8

Multiple Choice

Which estimating technique uses a statistical relationship between historical data and other variables to calculate project costs?

• A) empirical estimating
• B) parametric estimating
• C) grass roots estimating
• D) analogous estimating

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Definitions:

Variance

A measure of the dispersion of a set of data points in a dataset, indicating how far each data point lies from the mean.

Variability

Refers to the extent to which data points in a statistical distribution or data set diverge from the average value.

Range

The difference between the highest and lowest values in a data set, showing the spread or dispersion of the data points.

Subtract

To subtract means to take away one quantity from another, resulting in the difference between the two values.