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The Baum–Welch algorithm was named after its inventors Leonard E. Baum and Lloyd R. Welch.The algorithm and the Hidden Markov models were first described in a series of articles by Baum and his peers at the IDA Center for Communications Research, Princeton in the late 1960s and early 1970s. [2]
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Cost estimation models are mathematical algorithms or parametric equations used to estimate the costs of a product or project. The results of the models are typically necessary to obtain approval to proceed, and are factored into business plans, budgets, and other financial planning and tracking mechanisms.
A cost estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting construction contract. Some architects, engineers, construction managers, and others may also use cost estimating software to prepare cost estimates for purposes other than bidding such as budgeting ...
The Johns Hopkins Carey Business School (also Carey Business School or simply Carey) is the graduate business school of Johns Hopkins University, a private research university in Baltimore, Maryland. It was established in 2007 and offers full-time and part-time programs leading to the Master of Business Administration (MBA) and Master of ...
Johns Hopkins University [a] (often abbreviated as Johns Hopkins, Hopkins, or JHU) is a private research university in Baltimore, Maryland, United States. Founded in 1876, Johns Hopkins was the first American university based on the European research institution model. [ 8 ]
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
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