Question: Q7: Jack is a quotations analyst for Graeme Construction, while Jill is a quotations analyst for Lontana Construction. Both companies have been invited to submit

Q7: Jack is a quotations analyst for Graeme Construction, while Jill is a quotations analyst for Lontana Construction. Both companies have been invited to submit bids for a new seniors complex that will be built in Rosewood, close to the East Costco and next to highway #16. Fremai Developments has given complete blueprints to both analysts to help in preparing their bids. Jack estimates that Graeme will need to charge the customer $6.25 million in order for his company to cover all costs and make a moderate profit. Jill estimates that Lontana will need to charge the customer $6.95 million to achieve the same. The analysts used the same blueprints, and both work for well-established firms that know the Saskatoon real estate development market very well. How could it be that Jill's estimate was so much higher than Jack's?

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