11. But the surplus estimates are based on the assumption that all the excess revenues are used to reduce the national debt. 12. Cloud said she believed that estimate was based on the level of lottery sales before the Legislature reduced the prize payout four years ago. 13. Daugherty based his estimates on recent fund assets and expense levels, and excluded additional sales fees charged by the Magellan Fund. 14. First-quarter estimates are based on fourth-quarter figures released earlier this year. 15. Fiorina and Wayman replied that those higher estimates were based only on the reports of unit managers and were too pessimistic. 16. He based his estimate on figures from the U.S. Immigration and Naturalization Service. 17. He based his estimate on recent sales of other properties with comparable circulation. 18. He based that estimate on the long-distance track record of SBC and Verizon, fellow Baby Bells. 19. He based that estimate on information from the New York-based CommScan Inc., a brokerage services and information company. 20. He bases his estimate on interviews with instrument manufacturers and salespeople. |