Mell What is the ballpark estimate?
A ballpark figure is a rough numerical estimate or approximation of the value of something that is otherwise unknown. A stockbroker could use a ballpark figure to estimate how much money a client might have at some point in the future, given a certain rate of growth.
What is a sentence for ballpark estimate?
Example Sentences She manages to give her father a ballpark amount that she would need every week. I have donated this ballpark figure to the children’s aid this morning. Even a ballpark figure to this number is going to hurt our overall numbers very badly this quarter.
Why is it called ballpark estimate?
A: Okay, well, it’s as American as it sounds – named after the baseball stadium, which was first called a ballpark in the 1890s. A “ballpark figure/estimate” means an off-the-cuff guess. An approximation.
How accurate is a ballpark estimate?
Because a ballpark estimate is a rough guess, it should not be taken with much authority. Ball park estimates have been known to vary substantially from a “Detailed Estimate” by as much as 50%-80% because of the many unknowns within the project. These errors are common in ballpark estimates.
How much is a ballpark number?
A ballpark estimate or figure is a number that is a guess, but one that you believe is near the correct number: We’ll have to go away and cost this carefully, but as a ballpark figure I’d say that it’ll be about two million dollars.
What does the expression give me a ballpark figure mean?
An acceptable, roughly accurate approximation, as in I know you can’t tell me the exact cost; just give me a ballpark figure. This term alludes to a baseball field, which is always an enclosed space.
How do you estimate a project?
How Do You Estimate Time for a Project?
- Break down the project into activities and then further into smaller tasks, then estimate each task.
- Take a look at similar projects you’ve done in the past and how many hours they took.
- Take past project timelines and adjust them for differences in the new project.
Do you have a rough idea?
have a rough idea of (something) To have an approximate estimate or general conception about something. There will of course be a lot more details when we get started for real, but you should have a rough idea of the design after looking at these sketches.
What is the most accurate type of estimate?
Unit Price Estimate
Unit Price Estimate: Working drawings and full specifications are required to complete a unit price estimate—the most accurate of the four types, but also the most time-consuming. Used primarily for bidding purposes, accuracy is -5% to 10%.