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Describe Three Common Methods Employed in Estimating Costs

question 53

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Describe three common methods employed in estimating costs.


Definitions:

New Ideas

Original thoughts or suggestions about possible courses of action or concepts that have not been previously considered.

Direct Perception

The process of immediately understanding or knowing something through sensory input, without the need for conscious reasoning.

Creativity

The use of imagination or original ideas to create something; inventiveness that is often applied in artistic or problem-solving contexts.

Scholastic Ability

The capacity or potential of an individual to perform and achieve in academic settings.

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