Examlex
The formal way to revise probabilities based on new information is to use:
Cost Of Completion
The estimated expenses that are yet to be incurred to complete an ongoing project or to bring an asset to its intended use.
Market Value
The present cost at which a service or asset is available for purchase or sale in a market setting.
Replacement Cost
The current cost to replace an asset with a similar one of equivalent utility and quality, without considering depreciation.
Selling Price
The amount of money for which a product or service is sold to customers.
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