Table of Contents
What does low estimation mean?
Low Estimate means a conservative estimate of the quantity that it will actually be recovered. It is likely that the actual remaining quantities recovered will exceed the low estimate.
What is a high-level cost estimate?
High-level estimates are not about making a commitment, they are really about setting and managing expectations around what is realistically possible. Once we’ve dealt with our highest priorities first… if there is extra capacity, we can deal with the other stuff we couldn’t get to the first time around.
What does the word estimate?
transitive verb. 1a : to judge tentatively or approximately the value, worth, or significance of. b : to determine roughly the size, extent, or nature of. c : to produce a statement of the approximate cost of.
What does it mean to give someone an estimate?
to form an approximate judgment or opinion regarding the worth, amount, size, weight, etc., of; calculate approximately: to estimate the cost of a college education.
What does estimate mean in math 3rd grade?
To find a value that is close enough to the right answer, usually with some thought or calculation involved.
What is estimate in 4th grade math?
An estimate is a number that closely approximates the answer to a mathematical computation. An estimate is calculated mentally rather than by completing an exact calculation by hand or with a calculator.
What does a high-level budget mean?
Significance. A top-level budget is the most broad version of a company’s spending plan. It relies on top managers or business owners having deep understanding of the costs and relative importance of each piece of the business.
What is meant by estimating and why are estimates necessary?
The purpose of cost estimation is to predict the quantity, cost, and price of the resources required to complete a job within the project scope. Cost estimates are used to bid on new business from prospective clients and to inform your job and budget planning process.
What does estimate mean Example?
To find a value that is close enough to the right answer, usually with some thought or calculation involved. Example: Alex estimated there were 10,000 sunflowers in the field by counting one row then multiplying by the number of rows.
What is your estimate?
Your estimation of a person or situation is the opinion or impression that you have formed about them. An estimation is an approximate calculation of a quantity or value.
What do you call a person who estimate?
Evaluator, estimator (8)
How do you explain estimate to a child?
Estimating means roughly calculating or judging a number or value. Children begin estimating in Reception: they might be given a group of objects and asked to guess how many there are. The idea is that they use their existing knowledge to make an educated assumption (often called a ‘clever guess’).