Using the cost estimation template and Actuals in Figure 7-5, compare the model in the figure with
Question:
Base your comparison on the mean bias, the MAR, and the tracking signal. Comment.
In Figure7-5
Transcribed Image Text:
This is a template for improving one's estimating skills 3 MAR SUM [l(A(t)/F (t)-1) /n 4 Tracking Signal SUMt(A(t)/F (t)- 1)/MAR Tracking 6 Period Forecast Actual (A(t)/F(t))-1(A(t)F() MAR Signal 155 242 46 69 75 163 240 67 78 71 423 49 157 0.052 -0.008 0.457 0.130 -0.053 0.230 -0.125 0.227 0.052 0.008 0457 0.130 0.053 0.230 0.125 0.227 0.030 1.448 0.172 2.904 0.162 3.898 0.140 4.120 0.155 5.205 0.151 4.523 0.160 5.670 10 12 13 6 56 128 15 16 17 18 Key Formulae 19 Cell D9 (C9-B9)-1 copy to D10:D16 20 Cell E9 ABS(D9) copy to E10:E16 21 Cell F10(Sum(SE$9:E10/A10 copy to F11:F16 22 Cell G10(Sum(SD$9:D10)/F10 copy to G11:G16 Total 0.908 1.281
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Tracking Period Estimate Actual AtFt1 AtFt1 MAR Sign...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Project Management A Managerial Approach
ISBN: 978-0470533024
8th edition
Authors: Jack R. Meredith, Samuel J. Mantel Jr.
Question Posted:
Students also viewed these Management Leadership questions
-
In the template for finding bias (Figure), using the Actuals as shown, compare the estimating model shown in the figure with the following estimates: Base your comparison on the mean bias and the...
-
A producer of picture frames uses a tracking signal with limits of ±4 to decide whether a forecast should be reviewed. Given historical information for the past four weeks, compute the...
-
Cost estimates are inherently risky, irrespective of the estimation technique used. Suggest four ways in which the risk in a cost estimate can be reduced.
-
What impact does this have on the statement of cash flows using the indirect method? a.) If the balance of a current liability decreases during the accounting period, then that amount will be...
-
Use synthetic division to find the quotient and the remainder. a. (3x4 - x3 + 2x2 - 6x + 6) ( (x - 2) b. (x5 - 5) ( (x + 1)
-
Compute the results in Problems 3136. Leave your answers in scientific notation. a. (5 10) (8 105) 4 X 106
-
The Hull White model is \[d X_{t}=a(t)\left(b(t)-X_{t} ight) d t+\sigma(t) d W_{t}\] In this problem take \(a(t)=\theta_{1} t, b(t)=\theta_{2} \sqrt{t}\) and \(\sigma(t)=\theta_{3} t\) where...
-
Naib Company engaged in the following transactions in July 2014: July 1 Sold merchandise to Lina Lopez on credit, terms n/30, FOB shipping point, $4,200 (cost, $2,520). 3 Purchased merchandise on...
-
1 . Explain Engels Law 2. How can Engels law be used to explain the increase in demand for workers in the service industries?
-
Delma Company manufactures a variety of products in a variety of departments, and evaluates departments and departmental managers by comparing actual cost and output relative to the budget....
-
What should Emanon do now?
-
Conduct a discounted cash flow calculation to determine the NPV of the following project, assuming a required rate of return of 0.2. The project will cost $75,000 but will result in cash inflows of...
-
Write the first 3 terms of the infinite geometric series with r = -1 / 3 and S = 38. [8.3]
-
identify one of the liability accounts other than accounts payable, identify the balance amount and what actions you will take in the next week or two to clear the balance? Craig's Design and...
-
Assignment 5: Audit Testing For this assignment, the expected population exception rate (EPER) was specified as 1% or 2%, the tolerable exception rate (TER) was specified as 7% or 8%, and the...
-
Fill in the annual income statement plan using the information on the attached file. The first tab is the income statement; the plan column will populate sales and operating expenses from your inputs...
-
What is the stress in the walls of a spherical tank, with an inside diameter of 3 . 5 m , a wall thickness of 1 cm and an internal pressure of 1 1 8 0 kPa? ( Final answer in MPa )
-
How many feet per minute should a machine be run at if the diameter of the cutter is 0.625 inches, the revolutions per minute of the cutter is 2,500, and the value of pi is 3.1415? Record your answer...
-
Describe the area represented by the limits. N 3j $ ( + /) * N j=1 3 lim N-00 N
-
Consider the circuit of Fig. 7.97. Find v0 (t) if i(0) = 2 A and v(t) = 0. 1 3 ett)
-
Based on Exhibit B, the most appropriate recommendation regarding the triangular arbitrage trade is to: A. decline the trade, as no arbitrage profits are possible. B. execute the trade; buy BRL in...
-
BellSouth employed a number of measures to communicate the need for change. In the end, what was probably the main reason their customers accepted the change?
-
In what ways was the project scope expanded? Would you consider this to be scope creep? MINI CASE Reggie Brown, B&W Nuclear Service Companys (BWNS) project manager for Nita Light and Powers Green...
-
Given the results of the study, did the consensus approach indeed lead to a solution acceptable to all? Why wasnt everyone happy with this outcome?
-
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $45,300. The machine's useful life is estimated at 10 years, or 403,000 units of...
-
14. (3 points) Write a program that ask the user for 1. their first name and 2. their last name, Enter first name: Matt Enter last name: Priem Hello Matt Priem! and then outputs a greeting similar to...
-
Given a sorted array 2, 5, 8, 12, 16, 18, 22, 25, 29, 32 and the following interpolation search algorithm. Show the steps of the algorithm when 25 is searched. Also, when 26 is searched. array a,...
Study smarter with the SolutionInn App