the population Parameter – a numerical characteristic of a population 1. Population & Sample Means 2. Expected Values 3. Population & Sample Variances 4. Population & Sample Covariances 5. Population & Sample Correlation Coefficients 6. Estimators Statistic – a numerical characteristic of a sample Statistical inference – drawing conclusion about a population based on information contained in a sample Random sample – every sample of the same size in the population has the same chance
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Importance of correct estimating is obvious. Under-estimating may result in the client getting an unpleasant shock when tenders are opened and drastically modifying or abandoning the work at that stage. Over-estimating may lose the engineer or estimator his client or his job‚ or in any case his confidence. Estimating is the most important of the practical aspects of construction management‚ and the subject deserves the closest attention of one aspiring to a career in the profession. It is a comparatively
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Limit (but cannot avoid) mathematical treatment to broaden appeal. 3. Provide some practicalities and examples of implementation. 4. Provide C++ software overview. 2 What is a Kalman Filter and What Can It Do? A Kalman filter is an optimal estimator - ie infers parameters of interest from indirect‚ inaccurate and uncertain observations. It is recursive so that new measurements can be processed as they arrive. (cf batch processing where all data must be present). Optimal in what sense?
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Executive Summary This report aims to provide statistical analysis on the Efficiency and Effectiveness of AllRepair’s staff. Using sample data from 293 jobs completed in the last year‚ we were able to make accurate inferences concerning AllRepair’s business and have formed the following conclusions; Efficiency Our analysis of efficiency was primarily concerned with finding any marked differences between staff undertaking the same tasks. We found that; * For jobs assigned a low-level or
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STA304 H1 S/1003 H S Winter 2013 Dragan Banjevic (I) Note: A lot of material will be used from Internet‚ some with reference‚ some without. 2 CITY OF TORONTO NEIGHBOURHOODS 1 West Humber-Clairville 19 Long Branch 36 Newtonbrook West 54 O’Connor-Parkview 2 Mount Olive-SilverstoneJamestown 20 Alderwood 37 Willowdale West 55 Thorncliffe Park 3 Thistletown-Beaumond Heights 21 Humber Summit 38 Lansing-Westgate 56 Leaside-Bennington 4 Rexdale-Kipling
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best (minimum variance) linear (linear functions of the [pic]) unbiased estimator of [pic]is given by least squares estimator; that is‚ [pic]is the best linear unbiased estimator (BLUE) of [pic]. Proof: Let [pic]be any [pic]constant matrix and let [pic]; [pic] is a general linear function of [pic]‚ which we shall take as an estimator of [pic]. We must specify the elements of [pic]so that [pic]will be the best unbiased estimator of [pic]. Let [pic] Since [pic] is known‚ we must find [pic]in order to
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parameters Inference (unknown‚ but can be estimated from sample evidence Sample Population Sample Statistics as Estimators of Population Parameters A sample statistic is a numerical measure of a summary characteristic of a sample. • • • A population parameter is a numerical measure of a summary characteristic of a population. An estimator of a population parameter is a sample statistic used to estimate or predict the population parameter. An estimate of a parameter
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Portfolio optimization - a practical approach Andrzej Palczewski Institute of Applied Mathematics Warsaw University June 29‚ 2008 1 Introduction The construction of the best combination of investment instruments (investment portfolio) is a principal goal of investment policy. This is an optimization problem: select the best portfolio from all admissible portfolios. To approach this problem we have to choose the selection criterion first. The seminal paper of Markowitz [8] opened a new era
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ratio of expected value of the estimated PV to the true value. A general correction factor can be determined for any sampling distribution with an analytical expectation. (d)Unbiased estimation of PV:An analytical approximation to an unbiased estimator of the discount factor
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Indianapolis: Activity-Based Costing of City Services 1- Yes‚ government should perform a cost analysis before privatization‚ especially if the government will remain as a participant in the bidding process. The cost analysis will provide the government with cost information for accurately pricing the bid. In case the government is not going to be a participant in the bidding process‚ the cost estimate will provide the government with an estimate on how much to pay for a service. For example‚
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