Accession Number : AD0883232

Title :   Adding Cost Estimates that are not Symmetric About the Most Likely Value.

Descriptive Note : Client rept.,

Corporate Author : RESEARCH ANALYSIS CORP MCLEAN VA

Personal Author(s) : Sutherland, W.

Report Date : APR 1971

Pagination or Media Count : 56

Abstract : The paper shows a method for adding together three-value estimates of the cost or time for doing component parts of a task, in order to find the cost or time for the whole task. The estimates must be in the form of a most-likely value, and a high and low estimate each of which have a specified probability of occurrence. (Author)

Descriptors :   *COST EFFECTIVENESS), (*MANAGEMENT PLANNING AND CONTROL, STATISTICAL DISTRIBUTIONS, PROBABILITY, MONTE CARLO METHOD, CURVE FITTING, MONEY, UNCERTAINTY.

Subject Categories : Administration and Management
      Economics and Cost Analysis
      Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE