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The accuracy of bottom-up estimates will typically be in the range of:

A. Minus 50% to plus 50%

B. Minus 0% to plus 75%

C. Minus 20% to plus 60%

D. Minus 35% to plus 35%

E. Minus 10% to plus 30%

Answer :

Final answer:

The accuracy of bottom-up estimates is typically in the range of Minus 10% to plus 30%. This estimation method considers granular details but still presents a margin of error due to uncertainties inherent in project estimations. Therefore, the correct option is E.

Explanation:

The accuracy of bottom-up estimates will typically be in the range of Minus 10% to plus 30%. This is because bottom-up estimating involves detailed estimations at a very granular level, which tends to be more accurate than other methods such as top-down estimating but still incorporates a level of uncertainty. However, the typical range of accuracy can vary depending on the complexity of the task being estimated, the estimator's experience, the information available, and the project's uniqueness.

It is important to note that percentage values in estimations should not be reported with high precision, and a true error is more reasonably on the order of ±5%. In practice, one way to lower the sampling error is to increase the sample size. Moreover, the reported maximum error bounds, such as ±3 percent, represent the limitations within which the estimates are expected to fall, ensuring that the approximations remain useful and relevant to the project's context.

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