At the Strategic Level Top-Down Estimating Methods Are Used to Evaluate

question 58

True/False

At the strategic level top-down estimating methods are used to evaluate a project proposal.

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Definitions:

Point Scores

A method used in job evaluation that assigns numeric scores to different aspects of a job's requirements to assess its relative worth.

Correlation Coefficient

A numerical measure that indicates the degree and direction of a relationship between two or more variables, with values ranging between -1 and 1.

Market Pay Line

A graphical line in a compensation analysis showing the relationship between the job's importance or level and the average market pay rate for that job.

"Goodness Of Fit"

A statistical measure that evaluates how well a model or hypothesis matches observed data or outcomes.