Estimates based on the assumption that historical data can be used as a frame of reference for current estimates are:
A)comparative estimates.
B)ballpark estimates.
C)definitive estimates.
D)feasibility estimates.

Question

Quizplus · Accepted Answer

Estimates based on the assumption that historical data can be used as a frame of reference for current estimates are called comparative estimates. This is because such estimates involve comparing the current project or task to similar projects or tasks in the past and using the historical data to make informed estimates about the current one. Ballpark estimates, on the other hand, are rough estimates made with limited information and are not based on historical data. Definitive estimates are precise estimates based on detailed analysis, while feasibility estimates are used to determine whether a project can be completed within set constraints.

Estimates Based on the Assumption That Historical Data Can Be