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Article | REF: BM7076 V1

Estimating costs in mechanical production

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

Publication date: July 10, 1999

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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 method can be qualified in the same way as a measuring device, i.e. using three basic characteristics:

  • fidelity;...

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Estimation accuracy and margin of error
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