Term
1. Quantifying the relationship using a mathematical expression
2. Describing the accuracy of the relationship by applying statistics that indicate how well the mathematical expression describes the relationship between the variables |
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Definition
| What are the two parts of the definition of Regression Analysis? |
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Term
1. Chance - unexpected & unexplainable first & most useless of reason
2. Third set of circumstances - relationship between two events is better explained by relating each event to another variable
3. Functional Relationship - represented by an equations
4. Casual Relationship - represented by an equation, with a cause & effect situation is inferred between the variables - will be unknown variables called dependent variables "Y" symbol; independent "X" variable |
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Definition
| List and explain the 4 types of relationships between variables. |
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Term
- fact that only one independent variable (X) is required to predict the value (Y) of the dependent variable
- used most of the time when developing CER |
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Definition
| To what does "Simple" in Simple Linear Regression refer? |
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Term
- special use of non-linear regression
- allows analyst to extrapolate beyond the relevant range of the data set because it is time-series data. |
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Definition
| What are learning curves? |
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Term
- as the number of units of production doubles, the cost per unit decreases at a constant rate
- generally accepted when new task undertaken - worker learns while working |
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Definition
| What is the learning phenomenon? |
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Term
| - the unit in the lot, in which the actual cost of that unit is equal to the average cost of all the units in the lot |
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Definition
| What is the algebraic lot midpoint? |
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Term
Risk - probability an unfavorable event occurs in a situation that include favorable & unfavorable events
Uncertainty - assessed in cost estimate models for purpose of estimates risk (probability) that a specific funding level will be exceeded |
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Definition
| _______ is the chance of loss or injury. ______ is he indefiniteness about the outcome of a situation. |
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Term
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Definition
| In DoD,what is one technique used to improve the quality of the decisions by providing information to the decision maker that incorporates uncertainty? |
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Term
- Operational Risk Management (ORM)
(identify risk & benefits) |
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Definition
| What is the preferred process within the Air Force for Risk Management? |
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Term
1. Accept no unnecessary risk
2. make risk decisions at the appropriate level
3. accept risk when benefits outweigh the cost
4. integrate ORM into operations & planning at all levels |
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Definition
| What are the overarching principles of ORM? |
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Term
1. Identify hazards
2. Assess risk (hazards)
3. Analyze control measures
4. Make control decisions
5. Implement risk control
6. Supervise & review |
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Definition
| What are the steps of the ORM process? |
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Term
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Definition
| In which step do analysts assess the effectiveness of risk controls being implemented? |
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Term
1. reject
2. avoidance
3. delay
4. transfer
5. spread
6. compensate
7. reduce
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Definition
| What are the seven control measures in Step 3? |
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Term
| cost estimating uncertainty |
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Definition
| What uncertainty is due to "statistical uncertainties," inherent in the cost of a fixed configuration? |
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Term
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Definition
| What uncertainty arises from imperfect knowledge about the state of the world? |
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Term
technical uncertainty
- concerned whether or not the system can be developed |
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Definition
| What uncertainty arises from concern about technical capability? |
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Term
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Definition
______ can be built into the cost estimating relationship through the use of cost factors or through relationships that exist between the input values.
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Term
1. requirements uncertainty
2. cost estimating uncertainty
3. schedule uncertainty
4. technical uncertainty |
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Definition
| The four types of uncertainty analyses are ______, ______, _______, and ________. |
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