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:

1971-04-01

Pagination or Media Count:

56.0

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