Wedding cost estimation

Wedding 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.

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  1. Parametric estimate
  2. Bottom-up estimate
  3. Analogous cost estimate
  4. You 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?
Wedding Cost Estimates
Item Dollars
Groom’s brother’s wedding, last year, 175 guests, similar venue and style $20,300
Catering $65 per person
Photographer $1,500
Rental of hall $500
Clothing, bride $2,000
Clothing, groom $750
Flowers $800
Other décor items $500
Cake $500
Gifts for bridal party $80 each
Wedding planner $2,000
Wedding planner’s estimate of typical cost for this kind of wedding $10,000 plus $75 per guest

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