AACE CCT PRIMER - EXAMINATION COMPLETE QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE THIS YEAR JUST RELEASED

AACE CCT PRIMER - EXAMINATION COMPLETE
QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
THIS YEAR JUST RELEASED


Question 1: Large projects will often use __________ and
_________ as components of the overall coding structure.
Answer:

work breakdown structures, resource breakdown structures


Question 2: A ______ _____ ______is one in which the cost of a
new facility is derived from the cost of a similar facility of a known
(but usually different) capacity. It relies on the nonlinear
relationship between capacity and cost.
Answer:

capacity factored estimate


Question 3: __________ or ______ ______ methods are used in
situations where the total cost of an item or facility can be reliably
estimated from the cost of a primary component. This is often
referred to as "equipment factor" estimating
Answer:

Ratio, factored estimating


Question 4: _______ includes charging techniques that various
stakeholders in the plan (bidders, contractors, etc) apply to costs in
the estimate to allow for overhead and profit, to improve cash flow,
or to otherwise address market conditions and serve their business
interests.

,Answer:

price


Question 5: _______ is the collection of all elements of interest to
the decision-maker. The size of the _________ is usually denoted
by N. Very often, the ________ is so large that a complete census is
out of the question.
Answer:
population, population, population


Question 6: ________ is a subset of data randomly selected from a
population. The size of a sample is usually denoted by ____
Answer:

Sample, n


Question 7: ______ ______ is an estimation, prediction or
generalization about the population based on the information from
the sample
Answer:

statistical inference


Question 8: _______ is the sum of measurements divided by the
number of measurements
Answer:

mean

,Question 9: The best known and most reliable measure of central
tendency is the ____. The_____ is the arithmetic average of a group
of scores
Answer:

mean, mean


Question 10: ______ is the middle number when the data
observations are arranged in ascending or descending order. If the
number n of measurements is even, the _____ is the______of the
two middle measurements in the ranking
Answer:

median, median, average


Question 11: _______ is the measurement that occurs most often in
the data set.
Answer:

Mode


Question 12: If the observations have two modes, the data set is
said to have a _____ distribution. When the data set is multi-modal,
the mode(s) is on longer a viable measure of the ______ tendency.
Answer:

bimodal, central


Question 13: In a large data set, the modal class is the _____
containing the largest frequency.
Answer:

, class


Question 14: The _____ is defined as the difference between the
lowest and highest score in a distribution of scores.
Answer:

range


Question 15: The _____ is not considered a stable measurement of
variability because the value can change greatly with the change in
a single score within the distribution - either the high or low score
Answer:

range


Question 16: The _____ _____ is more stable than the range
because it is based on the spread of the scores through the center
of the distribution rather than through the two extremes.
Answer:

quartile deviation


Question 17: The _____ and the ______ _______ both insensitive to
extreme scores in the distribution and should be used accordingly.
Answer:

median, quartile


Question 18: _____ ____ is a more reliable indicator of the spread
of a distribution. It determines the amount each score deviates
from the mean of the distribution