Cost Estimates That Are Based as a Guideline on Real

question 83

Multiple Choice

Cost estimates that are based as a guideline on real numbers,or figures derived after the completion of preliminary design work,are:

• A)Definitive estimates.
• B)Order of magnitude estimates.
• C)Parametric estimates.
• D)Feasibility estimates.

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Definitions:

Waiting Time

The period between a request or need for service and the actual provision of that service, often analyzed in queue theory and service operations.

Standard Deviation

Standard deviation is a measure of the amount of variation or dispersion of a set of values, indicating how much the values in a data set differ from the mean.

Confidence Interval

A range of values, derived from sample statistics, that is believed to contain the value of an unknown population parameter with a certain probability.

Vegetarians

Individuals who abstain from consuming meat, and sometimes other animal products, for ethical, environmental, or health reasons.