Estimation accuracy and margin of error
Estimating costs in mechanical production
Article REF: BM7076 V1
Estimation accuracy and margin of error
Estimating costs in mechanical production

Authors : Pascal DUVERLIE, Jean-Marie CASTELAIN, Thibault FARINEAU

Publication date: July 10, 1999 | Lire en français

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3. Estimation accuracy and margin of error

The precision and margin of error of an estimation method are essential characteristics that must be perfectly mastered. Indeed, it would be very dangerous to accept the result of an estimation method without considering the risk of error.

3.1 Three characteristics: fidelity, sensitivity and accuracy

Mr. Pallot considers that a predetermination...

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