estimators
Those projecting figures
Estimators are people or things that estimate—calculate approximate values, costs, or quantities.
In construction and contracting, an estimator prepares bids by calculating projected costs: The estimator said the renovation would run about forty thousand.
In statistics, an estimator is a rule or formula for inferring population parameters from sample data.
Return to former state
- likelihoodChance something will occur
- probabilityQuantified chance of occurrence
- varianceSpread around the mean
- biasUnfair inclination or prejudice
confidence interval · standard error · sample · parameter · coefficient · Bayesian · unbiased · consistent
Finite problem-solving procedure
- formulaFixed method or notation
- computationMathematical processing work
- numericalRelating to figures
- iterationRepeated procedural pass
convergence · approximation · optimization · calculation · matrix · function · model · simulation
Prediction of future conditions
- projectionSomething that extends outward
- prognosisPredicted disease course
- trendDirection of change
- extrapolationExtending data beyond bounds
modeling · scenario · outlook · anticipation · foresight · expected value · baseline · benchmark
Assessment of monetary worth
- propertySomething owned or inherent
- real estateLand and its structures
- market valueCurrent trading price
- assessmentFormal evaluation of worth
appraiser · worth · comparables · fair market value · inspection · condition · equity · asset
Reviews organizational spending plans
- actuaryFinancial risk analyst
- contractorHired construction professional
- underwriterOne who assumes financial risk
- financial analystProfessional assessing investment value
Offer to purchase
- takeoffDeparture or parody
- materialsRaw stuff for creation
- labor costsPayment for work performed
- project scopeDefined work boundaries
blueprints · specifications · overhead · contingency · subcontractor · change order · unit price · square footage
regression
Return to former state
- likelihoodChance something will occur
- probabilityQuantified chance of occurrence
- varianceSpread around the mean
bias · confidence interval · standard error · sample · parameter · coefficient · Bayesian · unbiased · consistent · efficient
algorithm
Finite problem-solving procedure
- formulaFixed method or notation
- computationMathematical processing work
- numericalRelating to figures
iteration · convergence · approximation · optimization · calculation · matrix · function · model · simulation · software
forecast
Prediction of future conditions
- projectionSomething that extends outward
- prognosisPredicted disease course
- trendDirection of change
extrapolation · modeling · scenario · outlook · anticipation · foresight · expected value · baseline · benchmark · confidence level
valuation
Assessment of monetary worth
- propertySomething owned or inherent
- real estateLand and its structures
- market valueCurrent trading price
assessment · appraiser · worth · comparables · fair market value · inspection · condition · equity · asset · depreciation
budget analyst
Reviews organizational spending plans
- actuaryFinancial risk analyst
- contractorHired construction professional
- underwriterOne who assumes financial risk
bid
Offer to purchase
- takeoffDeparture or parody
- materialsRaw stuff for creation
- labor costsPayment for work performed
project scope · blueprints · specifications · overhead · contingency · subcontractor · change order · unit price · square footage · cost breakdown
- constructionconstruction site, building site, hammer, building, beam
- auto bodybody filler, bodywork, collision repair, dent repair, dent removal
- tradesmenwelders, machinists, carpenters, plumbers, electricians
- tree ensemblesdecision tree, decision trees, ensemble, bagging, boosting
estimatorsauditors
Financial statement reviewers
verifiers · certifiers · actuaries · certified accountants · counters
estimatorsauditors
Financial statement reviewers
verifiers · inspectors · reconcilers · certifiers · validators