Which of the Following Types of Estimate Use the Actual

question 67

Multiple Choice

Which of the following types of estimate use the actual cost of a previous, similar project as the basis for estimating the cost of the current project?

• A)Definitive estimates
• B)Parametric estimates  
• C)Bottom-up estimates
• D)Analogous estimates

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Definitions:

Critical Value

A threshold value in hypothesis testing that separates the region where the null hypothesis is rejected from the region where it is not.

Effect Size

A quantitative measure of the magnitude of the difference between groups or the strength of a relationship.

Simple Formula

An equation or expression that straightforwardly expresses a mathematical relationship between variables or quantities.

Effect Size

Represents the magnitude of the difference between groups in a study, providing insight into the practical significance of the research findings.