The Average ERP Implementation Cost Is $5

question 66

True/False

The average ERP implementation cost is $5.5 million with an average project duration just over 14 months.

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Definitions:

Sample Size

The number of observations or data points that form part of a sample taken from a larger population for the purpose of statistical analysis.

Point Estimate

A single value that serves as the best guess or best estimate of a population parameter based on sample data.

Point Estimate

A single value given as the best guess or estimate representing a population parameter, based on sample data.

Proportion

A part, share, or number considered in comparative relation to a whole; a statistical measure often used to describe a characteristic of a sample.