Estimation Flashcards
1
Q
Probability vs. Prediction
A
Prediction not possible, but you can perform forecast and analysis.
(not perfect)
2
Q
Accuracy vs. precision
A
Accuracy (estimate). Precision (prediction)
Management wants accuracy
3
Q
Ranges are wider because of…
A
uncertainty
4
Q
Calibration
A
Method for improving ability to make estimates.
5
Q
How can you express uncertainty?
A
Ranges
