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The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. [1] In the insurance industry, "replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the ...
Bootstrapping is a procedure for estimating the distribution of an estimator by resampling (often with replacement) one's data or a model estimated from the data. [1] Bootstrapping assigns measures of accuracy (bias, variance, confidence intervals, prediction error, etc.) to sample estimates.
If k exemplars are chosen (without replacement) from a discrete uniform distribution over the set {1, 2, ..., N} with unknown upper bound N, the MVUE for N is +, where m is the sample maximum. This is a scaled and shifted (so unbiased) transform of the sample maximum, which is a sufficient and complete statistic.
Given a sample of size , a jackknife estimator can be built by aggregating the parameter estimates from each subsample of size () obtained by omitting one observation. [ 1 ] The jackknife technique was developed by Maurice Quenouille (1924–1973) from 1949 and refined in 1956.
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 ...
At least two people have died as severe storms and tornadoes tore through parts of Texas and Mississippi on Saturday, officials said, while a parade of atmospheric river-fueled storms batters the ...
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