The probabilistic estimate of the price at which a property will be sold is its:____.

Business

1 answer:

bezimeni [28]1 year ago

5 0

The investment value of a property is the probabilistic prediction of the selling price.

<h3>What exactly do you mean when you say "probabilistic estimate"?</h3>

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.

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