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Estimating Angular Size With Hand Estimation Estimation (or estimating) is the process of finding an estimate, or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available.[1] Typically, estimation involves "using the value of a statistic derived from a sample to estimate the value of a corresponding population parameter".[2] The sample provides information that can be projected, through various formal or informal processes, to determine a range most likely to describe the missing information [...More...] 


Estimation (other) Estimation Estimation is the process of finding a usable approximation of a result. Estimation Estimation may also refer to: [...More...] 


Backoftheenvelope Calculation A backoftheenvelope calculation is a rough calculation, typically jotted down on any available scrap of paper such as an envelope. It is more than a guess but less than an accurate calculation or mathematical proof. The defining characteristic of backoftheenvelope calculations is the use of simplified assumptions. A similar phrase in the U.S [...More...] 


Business Business Business is the activity of making one's living or making money by producing or buying and selling goods or services.[1][2][3][4] Simply put, it is any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors.[5] The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.Anyone carrying on an activity that earns them a profit is doing business or running a business, and perhaps this is why there is a misconception that business and company is the same thing. A business name structure does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for all debts incurred by the business [...More...] 


Economics Economics Economics (/ɛkəˈnɒmɪks, iːkə/)[1][2][3] is the social science that studies the production, distribution, and consumption of goods and services.[4] Economics Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, saving, and investment) and issues affecting it, including unemployment of resources (labour, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies) [...More...] 


Estimation (project Management) In project management (e.g., for engineering), accurate estimates are the basis of sound project planning [...More...] 


Cost Estimate 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 estimator is the professional who prepares cost estimates. There are different types of cost estimators, whose title may be preceded by a modifier, such as building estimator, or electrical estimator, or chief estimator. Other professional titles may also prepare cost estimates or contribute to cost estimates, such as quantity surveyors, cost engineers, etc [...More...] 


U.S. Government Accountability Office The Government Accountability Accountability Office (GAO) is a legislative branch government agency that provides auditing, evaluation, and investigative services for the United States Congress.[2] It is the supreme audit institution of the federal government of the United States.Contents1 History 2 Reports2.1 Financial Statements of the U.S. government 2.2 U.S. Public Debt 2.3 Quinquennial Strategic Plan3 GAO and Technology Assessment 4 See also 5 References 6 External linksHistory[edit] The GAO was established as the General Accounting Office by the Budget and Accounting Act of 1921. The act required the head of the GAO to "investigate, at the seat of government or elsewhere, all matters relating to the receipt, disbursement, and application of public funds, and shall make to the President ... and to Congress .. [...More...] 


Guesstimate Guesstimate is an informal English portmanteau of guess and estimate, first used by American statisticians in 1934[1] or 1935.[2] It is defined as an estimate made without using adequate or complete information,[3][4] or, more strongly, as an estimate arrived at by guesswork or conjecture.[2][5][6] Like the words estimate and guess, guesstimate may be used as a verb or a noun (with the same change in pronunciation as estimate) [...More...] 


Ansatz In physics and mathematics, an ansatz (/ˈænsæts/; German: [ˈʔanzats], meaning: "initial placement of a tool at a work piece", plural ansätze /ˈænsɛtsə/; German: [ˈʔanzɛtsə] or ansatzes) is an educated guess[1] that is verified later by its results.Contents1 Use 2 Examples 3 See also 4 Notes 5 ReferencesUse[edit] An ansatz is the establishment of the starting equation(s), the theorem(s), or the value(s) describing a mathematical or physical problem or solution. It can take into consideration boundary conditions. After an ansatz has been established (constituting nothing more than an assumption), the equations are solved for the general function of interest (constituting a confirmation of the assumption). Examples[edit] Given a set of experimental data that looks to be clustered about a line, a linear ansatz could be made to find the parameters of the line by a least squares curve fit [...More...] 


Conjecture In mathematics, a conjecture is a conclusion or proposition based on incomplete information, for which no proof has been found.[1][2] Conjectures such as the Riemann hypothesis Riemann hypothesis (still a conjecture) or Fermat's Last Theorem [...More...] 


Forecasting Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction Prediction is a similar, but more general term. Both might refer to formal statistical methods employing time series, crosssectional or longitudinal data, or alternatively to less formal judgmental methods [...More...] 


Cost Estimation 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 estimator is the professional who prepares cost estimates. There are different types of cost estimators, whose title may be preceded by a modifier, such as building estimator, or electrical estimator, or chief estimator. Other professional titles may also prepare cost estimates or contribute to cost estimates, such as quantity surveyors, cost engineers, etc [...More...] 


Estimation Statistics Estimation statistics Estimation statistics is a data analysis framework that uses a combination of effect sizes, confidence intervals, precision planning, and metaanalysis to plan experiments, analyze data and interpret results.[1] It is distinct from null hypothesis significance testing (NHST), which is considered to be less informative.[2][3] Estimation statistics, or simply estimation, is also known as the new statistics,[3] a distinction introduced in the fields of psychology, medical research, life sciences and a wide range of other experimental sciences wher [...More...] 


Kalman Filter Kalman filtering, also known as linear quadratic estimation (LQE), is an algorithm that uses a series of measurements observed over time, containing statistical noise and other inaccuracies, and produces estimates of unknown variables that tend to be more accurate than those based on a single measurement alone, by estimating a joint probability distribution over the variables for each timeframe. The filter is named after Rudolf E. Kálmán, one of the primary developers of its theory. The Kalman filter Kalman filter has numerous applications in technology. A common application is for guidance, navigation, and control of vehicles, particularly aircraft and spacecraft.[1] Furthermore, the Kalman filter is a widely applied concept in time series analysis used in fields such as signal processing and econometrics [...More...] 


Sales Quote A sales quote allows a prospective buyer to see what costs would be involved for the work they would like to have done. Many businesses provide services that cannot have an upfront price, as the costs involved can vary. This can be due to the materials that would be used (which can differ depending on the individual needs of the customer), and the manpower that would be necessary. Therefore, it is common practice for these companies to provide the potential customer with a quote (or estimate) of how much it should cost. This quotation will be made by the company using the information that the potential customer provides, regarding the relevant elements that may affect the price. A quote can help the prospective buyer when deciding which company to use, and which services they are looking for. When considering the information provided on a quote, not only the price should be important; it is also advisable to look at quality and professionalism within a company [...More...] 
