When You Think About the Type of Data You Are

question 3

Multiple Choice

When you think about the type of data you are going to collect, it is also important to think about the _______ of the data.

• A)source
• B)predictions
• C)estimations
• D)observations

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Definitions:

Closeout Phase

The final stage of a project where activities are completed, deliverables are finalized, and the project is handed over or closed.

Risk Sharing and Transfer Agreements

Contracts where two or more parties agree to distribute among themselves the losses or benefits arising from particular risks.

Monte Carlo Simulation

A computational algorithm that uses repeated random sampling to obtain numerical results, typically used to assess risk and uncertainty in prediction and modeling.

Contingency Funds

Reserved money set aside by organizations or projects to address unforeseen events or emergencies that may incur additional costs.