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Engineering Economy - Engineering

Q1:

A construction estimate is used

A to judge tentatively or approximate value of the project

B to produce a statement of the approximate cost

C to decide an approximation of the value of the project and not the exact cost.

D None of these

ANS:C - to decide an approximation of the value of the project and not the exact cost.

To calculate value we do valuation of project, estimate is for approximate cost calculation of project construction.