Which Estimating Technique Uses a Statistical Relationship to Calculate Cost

question 30

Multiple Choice

Which estimating technique uses a statistical relationship to calculate cost or duration based on historical data and other project parameters?​ 

• A) empirical estimating 
• B) parametric estimating 
• C) grass roots estimating 
• D) analogous estimating

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Definitions:

Postponement

A strategy in supply chain management where the finalization of the product or shipment is delayed until the last possible moment to better match demand.

Large Fraction

A significant portion or part of a whole.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a certain period of time.

Multiple Products

Refers to a range of different items or SKUs that a company produces or sells.