Final answer:
A metrics-based approach for test estimation typically uses historical data from past projects. Option A, regarding previous project budgets, aligns closely with this approach.
Step-by-step explanation:
The characteristic of a metrics-based approach for test estimation most commonly involves using empirical data from past projects to predict the effort and resources needed for a current project. This could manifest in a variety of metrics such as past budgets, durations, team sizes, or issue counts.
A metrics-based approach for test estimation typically uses historical data from past projects. Option A, regarding previous project budgets, aligns closely with this approach. This option leverages historical data from similar past projects to inform the estimation process for a current project, which is a hallmark of the metrics-based approach.