Which estimating technique uses a statistical relationship between historical data and other variables to calculate project costs?
A) empirical estimating
B) parametric estimating
C) grass roots estimating
D) analogous estimating

Question

Quizplus · Accepted Answer

Parametric estimating involves using statistical relationships and mathematical models to estimate project costs based on historical data and other variables, making it the best choice for this question. Empirical estimating relies solely on past experience, while grass roots estimating involves breaking down a project into smaller tasks and estimating their costs individually. Analogous estimating involves comparing the current project to past projects to estimate costs.

Which Estimating Technique Uses a Statistical Relationship Between Historical Data