[amp_mcq option1=”variable residual terms” option2=”smaller residual terms” option3=”larger residual terms” option4=”zero residual terms” correct=”option2″]<\/p>\n
The correct answer is: B. smaller residual terms.<\/p>\n
Residual terms are the differences between the actual values and the estimated values. A better fit between estimated cost and actual observations is represented by smaller residual terms. This means that the estimated values are closer to the actual values.<\/p>\n
A. Variable residual terms do not necessarily indicate a better fit. In fact, variable residual terms can be a sign of a poor fit.<\/p>\n
C. Larger residual terms indicate a worse fit. This is because the estimated values are further away from the actual values.<\/p>\n
D. Zero residual terms indicate a perfect fit. However, this is not always possible, as there will always be some error in any estimate.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”variable residual terms” option2=”smaller residual terms” option3=”larger residual terms” option4=”zero residual terms” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-48111","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"\n