PMI Scheduling Professional Certification (PMI-SP) Practice Exam

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Prepare for the PMI Scheduling Professional Certification Exam with flashcards and multiple-choice questions. Each question comes with hints and explanations. Get ready for your certification!

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What type of analysis is regression analysis?

A process for resource allocation
A statistical method for estimating relationships among variables
A qualitative risk assessment tool
A problem-solving technique

The correct answer is: A statistical method for estimating relationships among variables

Regression analysis is indeed a statistical method for estimating the relationships among variables. This technique involves identifying and quantifying the relationships between a dependent variable and one or more independent variables. By using regression analysis, project managers and analysts can predict outcomes, assess trends, and understand the extent to which changes in one variable may affect another. In project scheduling and management, regression analysis can help in forecasting project timelines, costs, and resource needs, as well as in evaluating the impact of various factors on project performance. This approach is particularly valuable when making decisions based on historical data and understanding the dynamics between different project elements.