The Estimation of Activities' Durations Using Some Type of Mathematical

question 96

Multiple Choice

The estimation of activities' durations using some type of mathematical process is called:

• A)mathematical estimating.
• B)psychometric estimating.
• C)econometric estimating.
• D)parametric estimating.

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Definitions:

Direct Materials

Raw materials that are directly traced to the production of goods or services; these are the primary inputs in the manufacturing process.

Direct Labor

The earnings and perks of workers who are actively engaged in the making of products or provision of services.

Manufacturing Overhead

Indirect costs related to manufacturing that are not directly tied to a specific product, such as utilities and management salaries.

Raw Materials Inventory

Raw materials inventory are the basic materials and components that a company has in stock for the production process of its goods.