The Contract Will Usually Clearly Define What Will Be Included

question 4

True/False

The contract will usually clearly define what will be included in Time and Material costs

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Definitions:

Confidence Level

The probability, expressed as a percentage, that a confidence interval will contain the true population parameter across repeated samples or experiments.

Confidence Interval

A gamut of values, resulting from sample analysis, expected to enfold the value of an undefined population characteristic.

Level of Confidence

The degree to which one can be sure that a particular parameter falls within a specific range, expressed as a percentage.