Prior to submitting a bid for a construction job, cost engineers prepare a detai
ID: 3356749 • Letter: P
Question
Prior to submitting a bid for a construction job, cost engineers prepare a detailed analysis of the estimated labor and materials costs required to complete the job. This estimate will depend on the engineer who performs the analysis. An overly large estimate will reduce the change of acceptance of a company’s bid price, whereas an estimate too low will reduce the profit or even cause the company to lose money on the job. A company that employs three job cost engineers wanted to compare the mean performance of the engineer’s estimates for the same four jobs. The data is below; the estimates are in hundreds of thousands of dollars. Perform an analysis on the data to determine if the estimate was impacted by the engineer conducting the estimate.
What is the dependent variable?
What is the independent variable?
What is the covariate?
Does the covariate statistically predict the dependent variable? Explain in one sentence.
Was the estimate impacted by the engineer conducting the estimate?
The amount of variation due to the engineer is how many units?
The amount of variation due to the job estimated is how many units?
ENGINEER JOB COST 1 1 4.6 1 2 6.2 1 3 5 1 4 6.6 2 1 4.9 2 2 6.3 2 3 5.4 2 4 6.8 3 1 4.4 3 2 5.9 3 3 5.4 3 4 6.3Explanation / Answer
Dependent variable is Cost
Independent variable is Job
In statistics, a covariate is a variable that is possibly predictive of the outcome under study. A covariate may be of direct interest or it may be a confounding or interacting variable.. So Engineer is Covariate
No as it is confounding or interacting variables its satistically do not predict the dependent variable.
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