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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 ...
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost ...
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 ...
Soft (or ductile) copper tubing can be bent easily to travel around obstacles in the path of the tubing. While the work hardening of the drawing process used to size the tubing makes the copper hard or rigid, it is carefully annealed to make it soft again; it is, therefore, more expensive to produce than non-annealed, rigid copper tubing.
A tube and pipe may be specified by standard pipe size designations, e.g., nominal pipe size, or by nominal outside or inside diameter and/or wall thickness. The actual dimensions of pipe are usually not the nominal dimensions: A 1-inch pipe will not actually measure 1 inch in either outside or inside diameter, whereas many types of tubing are ...
The theory of median-unbiased estimators was revived by George W. Brown in 1947: [8]. An estimate of a one-dimensional parameter θ will be said to be median-unbiased, if, for fixed θ, the median of the distribution of the estimate is at the value θ; i.e., the estimate underestimates just as often as it overestimates.