With a Probability Sampling Plan

question 81

Multiple Choice

With a probability sampling plan

• A) every population element has some chance of being included in the sample.
• B) there is a random component in how population elements are selected for the sample.
• C) we can make inferences to the larger population based on the results from the sample.
• D) ee can estimate the likely amount of sampling error.
• E) All of the above.

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Definitions:

Actual Cost

The true, total expense incurred for a project, activity, or item.

Earned Value

A project management technique for measuring project performance and progress in an objective manner.

Actual Cost

The final, real amount spent on completing a specific task, project, or acquisition, as opposed to estimated or budgeted costs.

Cost Performance Index

A measure in project management that calculates the financial efficiency and cost control of a project by dividing the earned value by the actual cost.