Q2) Using these preliminary data, with the approximation [for the rest of the problem] that = s, would you say that the cost estimate of $100,000 provided by the consulting firm appears to be reasonable? (Q3) Suppose that ABC establishes a limit of $20,000 (i.e., refusing to spend $100,000) for the estimation process. How might ABC compromise its requirements of accuracy and confidence to accommodate this $20,000 budget? Specifically, i) if ABC wishes to retain 99% confidence in its interval, how much larger than "within one Fortune Cookie" will be the precision that ABC must settle for? ii) if ABC wishes, instead, to retain the precision of "within one Fortune Cookie." how much below a confidence level of .99 (i.e., 99%) will be the interval's confidence level that ABC must settle for? iii)] if instead of either of the above choices, ABC decides to compromise on both aspects, the confidence level and the precision, and decides to have 95% confidence, what will be the precision of the interval