Which of these is a correct definition of an Estimate?

Which of these is a correct definition of an Estimate?
A . The use of a range of tools and techniques to produce forecasts of the probable time or cost of completing work
B . An educated guess that improves over time
C . A forecast of the probable time or cost of completing work
D . An estimate is an approximation of project time and cost targets that forms the basis of the contract

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Answer: C