Parametric Estimate

Author: Client Uploads

November 27th, 2022

Wedding cost estimation: Given the following information, calculate the estimated costs for a wedding with 250 guests and a bridal party of six, using the methods indicated. Show your work. Note that members of the bridal party are already counted as guests, you dont need to add them twice.1. Parametric estimate2. Bottom-up estimate3. Analogous cost estimate4. You will probably notice some differences in the estimated values. Are these differences significant? What might cause the differences? If you were estimating a significant project in the future, which method(s) would you use and why?

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