From the graph provided one can surmise that the number of time spent on cost estimation, the less the efficiency one attains. +30% + 25% r Scoping/feasibility + 20% Order of magnitude estimate +15% Partially designed + 10% - Design 60–100% complete + 5% Detailed estimate 10 minutes 1 hour 1 day 1 week´ Time Spent on Estimate 3 weeks Accuracy of Estimate
From the graph provided one can surmise that the number of time spent on cost estimation, the less the efficiency one attains. +30% + 25% r Scoping/feasibility + 20% Order of magnitude estimate +15% Partially designed + 10% - Design 60–100% complete + 5% Detailed estimate 10 minutes 1 hour 1 day 1 week´ Time Spent on Estimate 3 weeks Accuracy of Estimate
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![From the graph provided one can surmise that the number of time spent on cost estimation, the less the efficiency one attains.
+ 30%
r Scoping/feasibility
+ 25%
+ 20%
Order of magnitude estimate
+ 15%
Partially designed
+ 10%
Design 60–100% complete
+ 5%
Detailed estimate
10 minutes
1 hour
Time Spent on Estimate
A) True
B) False
Accuracy of Estimate
1 day´
1 week
3 weeks](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7743c7b-54f9-445c-b218-a1fc181236bf%2F85e937c4-1611-41bc-a0a9-0b763ea2c97c%2Fo1eeepm_processed.png&w=3840&q=75)
Transcribed Image Text:From the graph provided one can surmise that the number of time spent on cost estimation, the less the efficiency one attains.
+ 30%
r Scoping/feasibility
+ 25%
+ 20%
Order of magnitude estimate
+ 15%
Partially designed
+ 10%
Design 60–100% complete
+ 5%
Detailed estimate
10 minutes
1 hour
Time Spent on Estimate
A) True
B) False
Accuracy of Estimate
1 day´
1 week
3 weeks
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