Provide responses to the following questions
1. you are providing a review of contractor bids for a component of your upcoming project. what can be done to determine whether or not a vendor’s bid is reasonable?
2. describe the conditions for which parametric, analogous and bottom up estimation techniques work best, and provide 2 examples in support of each method.
3. why is a cost management plan important? how does the plan benefit the project manager?

Suppose life expectancy in years (l) is a function of two inputs, health expenditures (h) and nutrition expenditures (n) in hundreds of dollars per year. the production function is upper l equals ch superscript 0.40 baseline upper n superscript 0.60l=ch0.40n0.60. beginning with c = 1, a health input of $400400 per year (hequals=44) and a nutrition input of $400400 per year (nequals=44), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing. the marginal product of health expenditures when h goes from 44 to 55 is nothing, and the marginal product of health when h goes from 66 to 77 is nothing. (round your answers to three decimal places.)