Question

Which estimating technique uses a statistical relationship to calculate cost or duration based on historical data and other project parameters?Selected Answer:a. parametric estimatingAnswers:a. parametric estimatingb. analogous estimatingc. grass roots estimatingd. empirical estimating

Answer 1

parametric estimating

Step-by-step explanation:

parametric estimating - it is referred to as a technique that is induced to calculate the exact cost and duration for any project. It defined the relationship between the variables (published data) needed to estimate the cost and duration. it determined the total number of units that need to be required and unit cost for a particular project. The main application of this technique is seen in filed like engineering, life science, etc.