Estimating is the technique of calculating or Computing the various quantities and the expected Expenditure to be incurred on a particular work or project. The goal of each cost estimation method is to estimate fixed and variable costs and to describe this estimate in the form of Y = f + vX. That is, Total mixed cost = Total fixed cost + (Unit variable cost × Number of units).
Estimating is the technique of calculating or Computing the various quantities and the expected Expenditure to be incurred on a particular work or project.
The goal of each cost estimation method is to estimate fixed and variable costs and to describe this estimate in the form of Y = f + vX. That is, Total mixed cost = Total fixed cost + (Unit variable cost × Number of units).
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