best estimate


Also found in: Acronyms.

best estimate

[¦best ′es·tə·mət]
(statistics)
A term applied to unbiased estimates which have a minimum variance.
References in periodicals archive ?
Hastings Group, which provides car, home and van insurance under the same name, confirmed that its total reserves continue to be held above the best estimate due to inherent uncertainty in claims patterns, particularly for bodily injury.
However, since the Corporation's base allowance for loan losses already incorporated reserves for environmental factors such as unemployment and deterioration in economic activity of approximately USD 58 million, management increased the environmental factors reserve by USD 64.3 million to USD 122.2 million using the near mid-range as the best estimate.
It is hosed upon the definition of 'the best estimate.' We may assume that this definition is constructed in such a manner that it implies that, for simple cases like the one under discussion, the best estimate is the mean of the observed values.
However, simply providing a point forecast of their best estimate of future revenues would not address the risk posed by the volatility of the sales tax--any plans the elected officials might make based on such a forecast would have been insufficiently informed of an uncertain future.
The distribution of the claim liabilities (and thereby the best estimate of these liabilities) depends on, among others, the distribution of the individual-specific unobserved heterogeneity.
IT is pretty tough to keep up with Chelsea's loan action but the best estimate is they now have 23 players farmed out.
The exploration portfolio is assessed to contain net prospective unrisked resources of 1,667 MMboe (best estimate) or 240 MMboe on a risked basis (best estimate).
"It's a fluid situation but my best estimate is we'll announce a preferred bidder by the end of the week."
The best estimate is between 12 and 18 months, so this will become an election issue.
Two steps are involved: setting the best estimate; and then considering how to transform the best estimate into a pricing assumption.
The actor told reporters: "Best estimate is tens of thousands of people are going to die from starvation...
Netherland Sewell & Associates Ltd (NSAI), a Texas-based oil and gas consulting firm, gives a best estimate of 5.1 trillion cubic feet (tcf) of gas with a probability of 50 per cent, the Israeli news website Globes reported yesterday.