The Standard Error of Measurement Allows Us to

question 35

Multiple Choice

The standard error of measurement allows us to

• A)estimate the degree to which a test provides inaccurate readings.
• B)have an acceptable margin of error.
• C)determine the source of error.
• D)avoid any measurement error.

---

Definitions:

Actual Cost

The total expense incurred for a project, activity, or item, reflecting the real financial expenditure.

Cost Variance

The difference between the budgeted or estimated cost of a project and the actual cost incurred.

Cost Performance Index

A measure in project management that calculates the efficiency of budget utilization by dividing the earned value by the actual costs.

Schedule Variance

The difference between the planned and the actual project progress, indicating whether a project is ahead or behind schedule.