Appendix G. Glossary

Numeric
50/50 estimate

The estimated outcome that is (thought to be) as likely to be exceeded as not. It's an informal name for the more formal concept of expected value.

See also [expected value]
A
Accelerated cost recovery system

The depreciation system in place in the United States between 1981 and 1986.

Accounting

The process of recording the financial history of a company. Informally, keeping track of the money coming into, moving around in, and going out of a company.

Accuracy

Closeness to the truth. In estimation, how close is an estimate to its eventual actual outcome? Contrast with precision.

Acquisition cost

The entire cost to acquire an asset, also known as its cost basis. This includes the purchase price, delivery, installation, ...

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