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College of Liberal Arts and Sciences Bureau of Economic and Business ResearchFlorida Estimates of Population2023Florida Estimates of Population 2023 April 1, 2023Bureau of Economic and Business Research
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Step 1: Identify the scope and objectives of the estimate
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The methodology for constructing estimates refers to the systematic approach and procedures used to develop quantitative approximations of values, costs, or performance metrics based on available data and assumptions.
Typically, organizations, businesses, and individuals involved in projects or operations that require formal estimates, especially for budgetary or regulatory purposes, are required to file their methodologies.
To fill out the methodology for constructing estimates, one should clearly outline the data sources, calculation methods, assumptions, and steps taken to arrive at the estimates, ensuring transparency and reproducibility of the results.
The purpose of the methodology for constructing estimates is to provide a clear framework that ensures estimates are consistent, reliable, and justifiable, helping stakeholders understand how values were derived.
Information that must be reported typically includes the data sources used, the calculation processes, the assumptions made, the scope of the estimates, and any limitations or uncertainties associated with the methodology.
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