Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.
Sagot :
The investment value of a property is the probabilistic prediction of the selling price.
What exactly do you mean when you say "probabilistic estimate"?
A calculation based on a range of values with corresponding probabilities of occurrence for each of the components, or, at the very least, for each of the components that are genuinely certain. The probabilistic cost estimation methods aim to estimate the project cost variability based on one or more characteristics while concentrating on the risks and uncertainties associated with the project. A deterministic estimate is one that only considers a single number value when discussing risk. It doesn't take into account the parameter's possible value ranges or chance of occurrence. The maximum entropy principle (MEP), the saddlepoint approximation, the Johnson system, and the Pearson system are the four generally used methods for estimating probabilities.
To learn more about probabilistic estimation, click here:
https://brainly.com/question/28286514
#SPJ4
Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.