{"id":56519,"date":"2024-04-16T00:46:03","date_gmt":"2024-04-16T00:46:03","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=56519"},"modified":"2024-04-16T00:46:03","modified_gmt":"2024-04-16T00:46:03","slug":"second-step-for-estimation-of-cost-function-by-using-quantitative-analysis-is-to","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/second-step-for-estimation-of-cost-function-by-using-quantitative-analysis-is-to\/","title":{"rendered":"Second step for estimation of cost function by using quantitative analysis is to"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a97958e7435c\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    choose independent variable                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"true\">\r\n                    choose cost estimation method                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    choose price estimation method                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    choose dependent variable                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>B. choose cost estimation method<\/strong><\/p>\n<p>A cost estimation method is a systematic approach to estimating the costs of a project, product, or service. There are many different cost estimation methods, each with its own strengths and weaknesses. The choice of cost estimation method will depend on a number of factors, including the type of project, the level of detail required, and the available resources.<\/p>\n<p>Some common cost estimation methods include:<\/p>\n<ul>\n<li><strong>Analogous estimating:<\/strong> This method involves estimating the costs of a new project by comparing it to similar projects that have been completed in the past.<\/li>\n<li><strong>Bottom-up estimating:<\/strong> This method involves estimating the costs of individual tasks or components of a project and then adding up these estimates to get the total project cost.<\/li>\n<li><strong>Top-down estimating:<\/strong> This method involves estimating the total cost of a project and then breaking this down into estimates for individual tasks or components.<\/li>\n<li><strong>Parametric estimating:<\/strong> This method involves using mathematical models to estimate the costs of a project based on factors such as the size, complexity, and duration of the project.<\/li>\n<\/ul>\n<p>The choice of cost estimation method is an important decision that can have a significant impact on the success of a project. It is important to select a method that is appropriate for the type of project and that will provide accurate and reliable estimates.<\/p>\n<p>The other options are incorrect because:<\/p>\n<ul>\n<li><strong>A. choose independent variable:<\/strong> The independent variable is the variable that is changed in an experiment to see how it affects the dependent variable. In the context of cost estimation, the independent variable would be the factors that are thought to affect the cost of a project, such as the size, complexity, and duration of the project.<\/li>\n<li><strong>C. choose price estimation method:<\/strong> Price estimation is a different process from cost estimation. Price estimation involves estimating the price that a customer is willing to pay for a product or service. Cost estimation, on the other hand, involves estimating the costs of producing a product or service.<\/li>\n<li><strong>D. choose dependent variable:<\/strong> The dependent variable is the variable that is measured in an experiment to see <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n         <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div>    Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> how it is affected by the independent variable. In the context of cost estimation, the dependent variable would be the cost of a project.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Subscribe on YouTube<\/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":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Second step for estimation of cost function by using quantitative analysis is to<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/second-step-for-estimation-of-cost-function-by-using-quantitative-analysis-is-to\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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