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The Black–Scholes / ˌ b l æ k ˈ ʃ oʊ l z / [1] or Black–Scholes–Merton model is a mathematical model for the dynamics of a financial market containing derivative investment instruments.
Allocation of costs is the transfer of costs from one cost item to one or more other cost items. [1] Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. [1] As-sold estimate - the estimate which matches the agreed items and price for the project scope.
A building estimator or cost estimator is an individual that quantifies the materials, labor, and equipment needed to complete a construction project. Building cost estimating can concern diverse forms of construction from residential properties to hi-rise and civil works.
The Black Codes, sometimes called the Black Laws, were laws which governed the conduct of African Americans (both free and freedmen).In 1832, James Kent wrote that "in most of the United States, there is a distinction in respect to political privileges, between free white persons and free colored persons of African blood; and in no part of the country do the latter, in point of fact ...
In software development, effort estimation is the process of predicting the most realistic amount of effort (expressed in terms of person-hours or money) required to develop or maintain software based on incomplete, uncertain and noisy input.
In 1997, the UK Treasury estimated the cost of Black Wednesday at £3.14 billion, [27] which was revised to £3.3 billion in 2005, following documents released under the Freedom of Information Act (earlier estimates placed losses at a much higher range of £13–27 billion). [28]
A Rao–Blackwell estimator δ 1 (X) of an unobservable quantity θ is the conditional expected value E(δ(X) | T(X)) of some estimator δ(X) given a sufficient statistic T(X). Call δ(X) the "original estimator" and δ 1 (X) the "improved estimator". It is important that the improved estimator be observable, i.e. that it
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