Stikkord: Modelling

  • Modelling correlations

    In a model which aims to estimate risk there are two main indicators which are used to describe the uncertainty in the variables: Volatility: How much can variable values be expected to differ from their expected values? Correlation: How do different variables impact each other? In this article I will cover modelling of correlation. If […]

  • Distinguish between events and estimates

    Large public sector investment projects in Norway have to go through an established methodology for quality assurance. There must be an external quality assurance process both of the selected concept (KS1) and the projects profitability and cost (KS2). KS1 and KS2 Concept quality control (KS1) shall ensure the realization of socio-economic advantages (the revenue side […]

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