The Amount of Sampling Error Can Be Represented as the Difference

question 21

Multiple Choice

The amount of sampling error can be represented as the difference between the value of a _____ and the value of the corresponding _____.

• A)standard deviation;variance
• B)sample statistic;population parameter
• C)sample;population
• D)mean;standard deviation

---

Definitions:

Actual Cost

The total amount of money that has been spent on a project or activity up to a specific point in time.

Budgeted Cost

The estimated financial expenditure allocated for a project or a specific activity within a project.

Planned Value

The budgeted cost of work scheduled to be completed by a specific point in time during a project.

Cost Variance

The difference between the budgeted or baseline amount of expense and the actual amount spent.