Chat with us, powered by LiveChat Problem Set #11Wedding cost estimation: Given the following - Aqhomework

## 23 Sep Problem Set #11Wedding cost estimation: Given the following

Problem Set #11Wedding cost estimation: Given the following information, calculate the estimated costs for a wedding with 250 guests and a bridal party of six, using the methods indicated. Show your work.Note that members of the bridal party are already counted as guests, you don’t need to add them twice.Parametric estimateBottom-up estimateAnalogous cost estimateYou will probably notice some differences in the estimated values. Are these differences significant? What might cause the differences? If you were estimating a significant project in the future, which method(s) would you use and why?Your mother points out you should probably have valet parking, which will cost \$500. Which estimate(s) will change?Wedding Cost EstimatesItemDollarsGroom’s brother’s wedding, last year, 175 guests, similar venue and style\$20,300Catering\$65 per personPhotographer\$1,500Rental of hall\$500Clothing, bride\$2,000Clothing, groom\$750Flowers\$800Other décor items\$500Cake\$500Gifts for bridal party\$80 eachWedding planner\$2,000Wedding planner’s estimate of typical cost for this kind of wedding\$10,000 plus \$75 per guestNote:1.Every paper typed in this course should be in APA formatting (title page, reference page, NO abstract page, in-text citations, running head, page numbers, Times New Roman 12 font, 1 inch margins, double-spacing, etc…).2.References (this does not count toward the required paper length).

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