Parametric estimation is a techniques that uses a statistical relationship to calculate cost or duration based on historical data and other project parameters
Parametric estimation is a quantitative method (statisitical relationship) used to estimate the project cost, resources, and duration based on historical data and other project parameters.
Parametric estimation models are used when:
- There is precedent
- The model is a unit hence can be scaled up
- The parameters required are easily quantifiable
While the other options of this question is incorrect because:
b. grass roots estimating
Cost estimation done by the individuals who will be performing the task being estimated.
c. empirical estimating
Estimation method in which the data is obtained using empirical formulas. It is usually based on an amalgamation of historical data, assumptions, guesses, and personal experience.
d. analogous estimating
Also called top-down estimating, this is a technique that involves comparing previous projects, personal experiences and cursory cross-referencing observed costs to estimate time resources required. This technique is most useful in the absence of quantifiable data.
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Answer:
Any excess funds above those required to pay-off encumbrances realized at a foreclosure sale belong to common stockholders.
Explanation:
Common stockholders are the legal owners of a company. Any excess funds realized at a foreclosure sale are distributed to common stockholders.
Answer
The answer and procedures of the exercise are attached in a microsof excel document.
Explanation1
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Answer:
40.22 hours
Explanation:
The computation of the time taken as follows:
= 26 minutes × 91 units
= 2,366
In hours
= 2,366 ÷ 60 minutes
= 39.43
The total time taken for machine step is
= 16 + 23
= 39 minutes
So, the total time taken is
= 39.43 + 39 minutes
= 40.22 hours
