Rule of thumb,
Definition of Rule of thumb:
A broadly accurate guide or principle, based on experience or practice rather than theory.
Formula or observation accepted (1) generally as practical knowledge based on experience (although not as a scientific law), or (2) uncritically as the way the things or the world works. Also called empirical formula.
Investors may be familiar with a variety of "financial rules of thumb" that are intended to help individuals learn, remember and apply financial guidelines. These rules of thumb address methods and procedures for saving, investing, purchasing a home and planning for retirement. Although a rule of thumb may be appropriate for a wide audience, it may not apply universally to every individual and unique set of circumstances.
A rule of thumb is a heuristic guideline that provides simplified advice or some basic rule-set regarding a particular subject or course of action. It is a general principle that gives practical instructions for accomplishing or approaching a certain task. Typically, rules of thumb develop as a result of practice and experience rather than through scientific research or a theoretical foundation.
Synonyms of Rule of thumb
R and D, Control, Control experiment, Controlled experiment, Cut and try, Empiricism, Experiment, Experimental design, Experimental method, Experimental proof, Experimentalism, Experimentation, Hit and miss, Noble experiment, Pragmatism, Research and development, Tentative method, Tentativeness, Testing, Trial, Trial and error, Trying
How to use Rule of thumb in a sentence?
- A useful rule of thumb is that about ten hours will be needed to analyze each hour of recorded data.
- You should always try to adhere to the rule of thumb because it will keep you doing the most logical thing.
- A rule of thumb is an informal piece of practical advice providing simplified rules what apply in most situations.
- There are many rules of thumb in finance that give guidance on how much to save, how much to pay for a house, where to invest, and so on.
- There is a general rule of thumb on the website that if you rent too many referrals too soon, you will not get as many clicks.
- You should always try to stick to any rule of thumb you have so that you know you are doing the right thing.
- Rules of thumb are not scientific and do not take into account the individual circumstances and needs of a person, so they may not be applicable to your particular situation.
Meaning of Rule of thumb & Rule of thumb Definition