Probability, Statistics and Other Frightening Stuff (Volume II of the Working Guides to Estimating & Forecasting series) considers many of the commonly used Descriptive Statistics in the world of estimating and forecasting. It considers values that are representative of the ‘middle ground’ (Measures of Central Tendency), and the degree of data scatter (Measures of Dispersion and Shape) around the ‘middle ground’ values.
A number of Probability Distributions and where they might be used are discussed, along with some fascinating and useful ‘rules of thumb’ or short-cut properties that estimators and forecasters can exploit in plying their trade. With the help of a ‘Correlation Chicken’, the concept of partial correlation is explained, including how the estimator or forecaster can exploit this in reflecting varying levels of independence and imperfect dependence between an output or predicted value (such as cost) and an input or predictor variable such as size.
Under the guise of ‘Tails of the unexpected’ the book concludes with two chapters devoted to Hypothesis Testing (or knowing when to accept or reject the validity of an assumed estimating relationship), and a number of statistically-based tests to help the estimator to decide whether to include or exclude a data point as an ‘outlier’, one that appears not to be representative of that which the estimator is tasked to produce. This is a valuable resource for estimators, engineers, accountants, project risk specialists as well as students of cost engineering.
Explore Probability, Statistics and Other Frightening Stuff by Alan Jones on eBooksStore by Arnlweb. Discover book details, reader ratings, reviews, release information, genres, and related digital books available through the iTunes Store.
This book is part of our growing collection of bestselling eBooks, popular digital reading materials, and trending author releases. Readers can explore similar books, discover new authors, and browse related genres including fiction, romance, mystery, fantasy, business, self-help, educational books, and more.
Our platform helps readers discover highly rated digital books optimized for smartphones, tablets, laptops, and desktop devices. Browse fast-loading book pages, reader reviews, and popular recommendations from bestselling authors worldwide.