What are parametric cost estimates and how are they developed?
What will be an ideal response?
Parametric estimates are a form of comparative estimates, which are based on the assumption that historical data can be used as a frame of reference for current estimates on similar projects. Parametric estimation takes older work and uses a multiplier to account for the impact of inflation, labor and materials increases, and other reasonable costs.
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Which of the following terms describes the practice of retailers purchasing a greater quantity during a sales promotion period than they can immediately sell?
A) diverting B) panic buying C) straight rebuy D) buyout E) forward buying
To ensure against interruptions in power supply, organizations use _____ systems, which provide an alternative power supply for a short time, as soon as a power network fails.
Fill in the blank(s) with the appropriate word(s).
When institutions are the unit of measurement, the data may be obtained from retailers, wholesalers, or households
Indicate whether the statement is true or false
The acceptable proposals are ranked in order of net present value, payback period or rate of return in capital investment decisions
Indicate whether the statement is true or false