There Are at Least Three Different Methods to Estimate Costs

question 71

Short Answer

There are at least three different methods to estimate costs.These methods are the _______________,_______________,and _______________methods.

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Definitions:

Correlated

A term indicating a statistically significant relationship between two or more variables, implying that changes in one are associated with changes in the other.

Random Samples

A sampling technique where each member of a population has an equal chance of being included, allowing for unbiased statistical analysis.

Normal Curve

A bell-shaped curve that represents the distribution of many physical and psychological attributes in the human population.

Standard Deviation

A numerical indicator showing the spread or variation of values in a dataset, illustrating the degree to which the figures deviate from the average.