High Estimate definition
High Estimate means at least a 10% probability (P10) that the quantities actually recovered will equal or exceed the high estimate;
High Estimate means an optimistic estimate of the quantity that will actually be recovered. It is unlikely that the actual remaining quantities recovered will exceed the high estimate. If probabilistic methods are used, there should be at least a 10% probability (P10) that the quantities actually recovered will equal or exceed the high estimate;
High Estimate means an amount that LAG anticipates that a Lot may bring at the high end of a spectrum of possible bids. The High Estimate, if used, is not a valuation or appraisal, and cannot be relied on as such.
More Definitions of High Estimate
High Estimate or “P10” means there is a 1% chance that the estimated quantity will be equaled or exceeded. “low estimate” or “P90” means there is a 90% chance that the estimated quantity will be equaled or exceeded. “mean estimate” is the probability-weighted average (expected value).