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2. Monte Carlo method - Wikipedia

   en.wikipedia.org/wiki/Monte_Carlo_method

   Monte Carlo method. Monte Carlo methods, or Monte Carlo experiments, are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results. The underlying concept is to use randomness to solve problems that might be deterministic in principle. The name comes from the Monte Carlo Casino in Monaco, where ...

3. Estimation of covariance matrices - Wikipedia

   en.wikipedia.org/wiki/Estimation_of_covariance...

   The sample covariance matrix (SCM) is an unbiased and efficient estimator of the covariance matrix if the space of covariance matrices is viewed as an extrinsic convex cone in Rp×p; however, measured using the intrinsic geometry of positive-definite matrices, the SCM is a biased and inefficient estimator. [ 1]

4. Three-point estimation - Wikipedia

   en.wikipedia.org/wiki/Three-point_estimation

   Technique used in management and information systems. The three-point estimationtechnique is used in management and information systemsapplications for the construction of an approximate probability distributionrepresenting the outcome of future events, based on very limited information. While the distribution used for the approximation might ...

5. Automotive SPICE - Wikipedia

   en.wikipedia.org/wiki/Automotive_SPICE

   Automotive SPICE is a maturity model adapted for the automotive industry. It assesses the maturity of development processes for electronic and software-based systems (e.g., ECUs). It is based on an initiative of the Special Interest Group Automotive and the Quality Management Center (QMC) in the German Association of the Automotive Industry (VDA) .

6. Production part approval process - Wikipedia

   en.wikipedia.org/wiki/Production_part_approval...

   Production Part Approval Process (PPAP) is used in the Aerospace or automotive supply chain for establishing confidence in suppliers and their production processes. Actual measurements are taken from the parts produced and are used to complete the various test sheets of PPAP. "All customer engineering design record and specification ...

7. Cost estimation models - Wikipedia

   en.wikipedia.org/wiki/Cost_estimation_models

   Cost estimation models. Cost estimation models are mathematical algorithms or parametric equations used to estimate the costs of a product or project. The results of the models are typically necessary to obtain approval to proceed, and are factored into business plans, budgets, and other financial planning and tracking mechanisms.

8. Request for quotation - Wikipedia

   en.wikipedia.org/wiki/Request_for_quotation

   Request for quotation. A request for quotation ( RfQ) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. RfQ generally means the same thing as Call for bids (CfB) and Invitation for bid (IfB). [ 1]

9. Interval estimation - Wikipedia

   en.wikipedia.org/wiki/Interval_estimation

   In statistics, interval estimation is the use of sample data to estimate an interval of possible values of a parameter of interest. This is in contrast to point estimation, which gives a single value. [1] The most prevalent forms of interval estimation are confidence intervals (a frequentist method) and credible intervals (a Bayesian method). [2]