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When f(x, β 0, β 1, ,,,, β p) is a linear function of the parameters and the x-values are known, least square estimators will be best linear unbiased estimator (BLUE). Again, if we assume that the least square estimates are independently and identically normally distributed, then a linear estimator will be minimum-variance unbiased estimator ...
Decisions are reached through quantitative analysis and model building by simply using a best guess (single value) for each input variable. Decisions are then made on computed point estimates . In many cases, however, ignoring uncertainty can lead to very poor decisions, with estimations for result variables often misleading the decision maker ...
Some researchers include a metacognitive component in their definition. In this view, the Dunning–Kruger effect is the thesis that those who are incompetent in a given area tend to be ignorant of their incompetence, i.e., they lack the metacognitive ability to become aware of their incompetence.
Multiple possible solutions are explored in a short amount of time, and unexpected connections are drawn. After the process of divergent thinking has been completed, ideas and information are organized and structured using convergent thinking to decision making strategies are used leading to a single-best, or most often correct answer. [2]
Divergent production—The ability to generate multiple solutions to a problem; creativity. Convergent production—The ability to deduce a single solution to a problem; rule-following or problem-solving. Evaluation—The ability to judge whether or not information is accurate, consistent, or valid. Content dimension
(1) The Type I bias equations 1.1 and 1.2 are not affected by the sample size n. (2) Eq(1.4) is a re-arrangement of the second term in Eq(1.3). (3) The Type II bias and the variance and standard deviation all decrease with increasing sample size, and they also decrease, for a given sample size, when x's standard deviation σ becomes small ...
The Delphi method or Delphi technique (/ ˈ d ɛ l f aɪ / DEL-fy; also known as Estimate-Talk-Estimate or ETE) is a structured communication technique or method, originally developed as a systematic, interactive forecasting method that relies on a panel of experts.
The Analysis of Alternatives (AoA) in the United States is a requirement of military acquisition policy, as controlled by the Office of Management and Budget (OMB) and the United States Department of Defense (DoD). It ensures that at least three feasible alternatives are analyzed prior to making costly investment decisions. [1]