The Cost Estimating Approach That Uses the Two Most Extreme

question 58

Multiple Choice

The cost estimating approach that uses the two most extreme activity observations is the:

• A)scattergraph method.
• B)high-low method.
• C)visual fit method.
• D)regression analysis.

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Definitions:

Chi-square Distribution

A probability distribution used in statistical analysis that is applicable when dealing with categorical data and assessing how likely observations are due to chance.

Skewed to the Right

Refers to a distribution where the tail is on the right side, indicating that the majority of data points are concentrated on the left.

Null Hypothesis

A default statement that assumes no effect or no difference in the statistical testing framework, to be tested against the alternative hypothesis.

Two-Way Tables

A type of table used in statistics to display data collected from two categorical variables.