Con 270 Exam

Front 1

What part of the FAR would you find Cost Proposal

Back 1

FAR 15

Front 2

Random sampling

Back 2

used when you have low dollar items

Front 3

Stratified sampling

Back 3

used when you have high dollar items

Front 4

What are the benefits of the proposal model

Back 4

-The best way to understand how the propose cost roll together is to model the proposal, e.g. utilizing excel

-Duplicate the propose costs and profit

-Distinguish between "discrete", factor generated amounts and indirect cost

-Effective way to understand how the estimating system works

-Enable your ability to quickly trade offers in negotiations

Front 5

What measure is used for "Equal chance of overrun and underrun"

Back 5

Median

Front 6

What measure of central tendency & dispersion does Outliers impact the most

Back 6

Mean

Front 7

A Right Skewed is a

Back 7

Positive (tailed to the right)

Front 8

A Left Skewed is a

Back 8

Negative (tailed to the left)

Front 9

In the simple regression model, Y=A+BX, what does the X represent

Back 9

Independent variable (changes)

Front 10

In the simple regression model, Y=A+BX, what does the Y represent

Back 10

Dependent variable (price/cost-stays the same)

Front 11

R-Squared measures

Back 11

-variation

-strength of association

Front 12

When dealing with Skewed data

Back 12

the Median would be a used

Front 13

When dealing with Kurtosis data

Back 13

the Mean would be used

Front 14

CER Issues and Concerns

Back 14

1) Does the available data verify the existence and accuracy of the proposed relationship?

2) Is there a trend in the relationship?

3) Is the CER used consistently?

4) How is the current CER?

5) Would another independent variable be better for developing and applying a CER?

6) Would a detail estimate or direct comparison with actual from prior effort produce more accurate results?

Front 15

Purpose of Regression analysis

Back 15

-To Predict the value of a Dependent variable Y,

given the value of the Independent variable X -

it is based on a straight-line linear relationship even when the data points do not fall on a straight line

Front 16

Under the Prediction Interval, as the confidence level increases

Back 16

the range widens between high and low numbers but the estimate stays the same

Front 17

Under the Prediction Interval, as the confidence level decreases

Back 17

the range becomes smaller between high and low numbers but the estimate stays the same

Front 18

2 types of moving averages

Back 18

Single Moving Average - NO time-series data trend

Double Moving Average - IS a time-series data trend

Front 19

If a contractor proposes a high dollar value,

Back 19

the Gov't counter-offer should be a Low estimate

Front 20

Cost realism analyses shall be performed on

Back 20

Cost-reimbursement contracts to determine the probable cost of performance for each offeror

Front 21

If there is adequate competition

Back 21

no certified cost or pricing data is needed

Front 22

Other than cost or pricing data we should obtain as little data as possible from the contractor

Back 22

True

Front 23

2 types of CER's

Back 23

Cost/Cost Relationship = uses one or more elements of contract cost to estimate cost or product price

Cost/Non-Cost Relationship = use physical or performance characteristics to estimate cost or product price

Front 24

When conducting cost analysis you need a breakdown of cost elements

Back 24

Material Services

Direct Labor

Front 25

Coefficient of Variation (CV)

Back 25

-the accuracy of using mean

-we could be off plus or minus