Estimates That Are Typically Based on Estimates of Elements Found

question 30

True/False

Estimates that are typically based on estimates of elements found in the work breakdown structure are called bottom-up estimates.

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Definitions:

Private-Values Auction

A type of auction in which each bidder knows their own valuation of the item for sale, but this valuation is private and may differ from that of other bidders.

English Auction

A type of auction where bidders openly bid against one another, and the item is sold to the highest bidder.

Examine

To inspect or scrutinize carefully.

Vickrey Auction

A type of sealed-bid auction where the highest bidder wins but pays the price bid by the second-highest bidder.