Estimation Analysis

Estimation Analysis

Estimation Analysis

Name

Affiliation

Question 1

Correlations

Estimated cost (000) Work days Contract value (000) No of bidders Ratio of success

Estimated cost (000) Pearson Correlation 1 .626** .949** .176 -.248

Sig. (2-tailed) .000 .000 .311 .157

N 35 35 35 35 34

Work days Pearson Correlation .626** 1 .628** -.076 -.197

Sig. (2-tailed) .000 .000 .666 .264

N 35 35 35 35 34

Contract value (000) Pearson Correlation .949** .628** 1 .222 -.284

Sig. (2-tailed) .000 .000 .199 .103

N 35 35 35 35 34

No of bidders Pearson Correlation .176 -.076 .222 1 -.494**

Sig. (2-tailed) .311 .666 .199 .003

N 35 35 35 35 34

Ratio of success Pearson Correlation -.248 -.197 -.284 -.494** 1

Sig. (2-tailed) .157 .264 .103 .003 N 34 34 34 34 34

**. Correlation is significant at the 0.01 level (2-tailed). The significance of the study was done at p-value .01. From the above table it is evident that there is no correlation between the variable used.

Question 2

Coefficientsa

Model Unstandardized Coefficients Standardized Coefficients t Sig. Correlations

B Std. Error Beta Zero-order Partial Part

1 (Constant) -12993.433 29440.713 -.441 .662 Work days 28.250 68.390 .033 .413 .683 .584 .076 .025

Contract value (000) .799 .069 .934 11.647 .000 .944 .908 .706

No of bidders -457.877 1525.094 -.022 -.300 .766 .185 -.056 -.018

Ratio of success 52.916 311.644 .012 .170 .866 -.248 .032 .010

a. Dependent Variable: Estimated cost (000) The simple regression or bivariate regression was conducted and the results show that there was only one significant relations between contract value and the estimated cost. This is because the p-value was .000 less than the significant value .05 at 85% confidence interval.

Question 3

The best analysis to use for estimation is regression analysis as it gives detailed correlation and significance levels between the dependent variable and the independent variables.