A Project Manager Should Never Develop Time and Cost Estimates

question 43

True/False

A project manager should never develop time and cost estimates based on the resources used for previously developed information systems.

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Definitions:

Correlation Coefficient

The correlation coefficient is a statistical measure that calculates the strength and direction of the relationship between two variables, ranging from -1 to 1.

Variance Inflation Factor

A measure of how much the variance of an estimated regression coefficient increases if your predictors are correlated.

Independent Variables

Factors within an experiment or model that are intentionally altered to study their impact on outcome variables.

Residuals

The differences between observed values and the values predicted by a regression or other statistical model.