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March 27, 2017

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You are estimating the contractor’s material handling cost as a factor of the material cost. After examining 6 previous contracts you have the percentage (factor) for each contract:

2.5% 6.2% 3.2% 12.9% 7.0% 15.3%

All of the following would be reasonable actions except for:
Consider if there is an additional cost driver
Determine if all 6 contracts were for similar work
Reconsider if material cost is a good indicator of material handling cost
Throw out the high and low values and average the remaining factors

  • budgeting - ,

    Throw out the high and low values and average the remaining factors

  • sTATISTICS - ,

    You are estimating the contractor’s material handling cost as a factor of the material cost. After examining 6 previous contracts you have the percentage (factor) for each contract:

    2.5% 6.2% 3.2% 12.9% 7.0% 15.3%

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