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The Rao–Blackwell theorem states that if g ( X) is any kind of estimator of a parameter θ, then the conditional expectation of g ( X) given T ( X ), where T is a sufficient statistic, is typically a better estimator of θ, and is never worse. Sometimes one can very easily construct a very crude estimator g ( X ), and then evaluate that ...
Rakon Limited is a technology company founded in 1967 that designs and manufactures frequency control products, primarily quartz crystals and temperature-compensated crystal oscillators ( TCXO ), [1] oven controlled crystal oscillators ( OCXO) and voltage controlled crystal oscillators ( VCXO ). [2] Its head office is in Auckland, New Zealand ...
ASPE is the American Society of Professional Estimators. It was founded in 1956 [1] by about 20 cost estimators in Los Angeles, California, USA. [2] In 1974, there were 10 chapters totalling 600 members. By 1977, there were 23 chapters totalling 1500 members. The society's web page states that there are thousands [clarification needed] of ...
Definition. As defined by Theil (1950), the Theil–Sen estimator of a set of two-dimensional points (xi, yi) is the median m of the slopes (yj − yi)/ (xj − xi) determined by all pairs of sample points. Sen (1968) extended this definition to handle the case in which two data points have the same x coordinate. In Sen's definition, one takes ...
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.
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate.
payments to physicians increase health care costs and may result in unfair competition. When a device manufacturer pays a physician to influence the physician’s use or recommendation of its products, rather than to advance a legitimate medical interest, the additional costs are passed on to the patients, Federal health care programs, and private
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] ". Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements."