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The explicit form of the estimator in equation is derived in two steps. First, the representer theorem [ 9 ] [ 10 ] [ 11 ] states that the minimizer of the functional ( 2 ) can always be written as a linear combination of the kernels centered at the training-set points,
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost ...
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects.
An estimator ^ is said to be a Bayes estimator if it minimizes the Bayes risk among all estimators. Equivalently, the estimator which minimizes the posterior expected loss E ( L ( θ , θ ^ ) | x ) {\displaystyle E(L(\theta ,{\widehat {\theta }})|x)} for each x {\displaystyle x} also minimizes the Bayes risk and therefore is a Bayes estimator.
In its September 1978 report, [4] the group concluded that "the uncertainties in WASH-1400's estimates of the probabilities of severe accidents were in general, greatly understated". [5] Rassmussen observed that the likelihood of a core melt, as estimated in WASH-1400 and NUREG 1150, were in close agreement and their uncertainty bands overlapped.
It was founded in 1956 [1] by about 20 cost estimators in Los Angeles, California. [2] In 1974, there were 10 chapters totalling 600 members. By 1977, there were 23 chapters totalling 1500 members. The society's web page states that there are thousands [clarification needed] of members in 65 chapters across the US.
A cost estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting construction contract. Some architects, engineers, construction managers, and others may also use cost estimating software to prepare cost estimates for purposes other than bidding such as budgeting ...
In statistics, an estimator is a rule for calculating an estimate of a given quantity based on observed data: thus the rule (the estimator), the quantity of interest (the estimand) and its result (the estimate) are distinguished. [1] For example, the sample mean is a commonly used estimator of the population mean. There are point and interval ...
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