What is the ballpark estimate?

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?

  1. Break down the project into activities and then further into smaller tasks, then estimate each task.
  2. Take a look at similar projects you’ve done in the past and how many hours they took.
  3. 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%.