[parametric:] "A statistical procedure that makes assumptions concerning the frequency distributions." (Glenn J Myatt, "Making Sense of Data: A Practical Guide to Exploratory Data Analysis and Data Mining", 2006)
"A simplified mathematical description of a system or process, used to assist calculations and predictions. Generally speaking, parametric models calculate the dependent variables of cost and duration on the basis of one or more variables." (Project Management Institute, "Practice Standard for Project Estimating", 2010)
"An estimating technique that uses a statistical relationship between historical data and other variables (e.g., square footage in construction, lines of code in software development) to calculate an estimate for activity parameters, such as scope, cost, budget, and duration. An example for the cost parameter is multiplying the planned quantity of work to be performed by the historical cost per unit to obtain the estimated cost." (Project Management Institute, "Practice Standard for Project Estimating", 2010)
"A branch of statistics that assumes the data being examined comes from a variety of known probability distributions. In general, the tests sacrifice generalizability for speed of computation and precision, providing the requisite assumptions are met." (Evan Stubbs, "Delivering Business Analytics: Practical Guidelines for Best Practice", 2013)
"An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters." (For Dummies, "PMP Certification All-in-One For Dummies" 2nd Ed., 2013)
"Inferential statistical procedures that rely on sample statistics to draw inferences about population parameters, such as mean and variance." (K N Krishnaswamy et al, "Management Research Methodology: Integration of Principles, Methods and Techniques", 2016)
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