IDEAS home Printed from https://ideas.repec.org/h/spr/mgmchp/978-3-031-31785-9_14.html
   My bibliography  Save this book chapter

Calibrating Data

In: The Illusion of Control

Author

Listed:
  • Mario Vanhoucke

    (Ghent University)

Abstract

This chapter presents a new way to calibrate real project data to prepare them for academic use. Three different calibration methods are discussed to translate the data from real completed projects into probability distributions with accurate parameter estimates. With these distributions, accurate predictions can be made for new projects where, thanks to the use of real data during calibration, fewer (incorrect) assumptions have to be made. The calibration methods consist of a balanced mix of statistical hypothesis testing, methods for reducing human bias, and partitioning methods to split the projects into clusters. Computational experiments show that the accuracy of these calibration procedures reaches an impressive 97%.

Suggested Citation

  • Mario Vanhoucke, 2023. "Calibrating Data," Management for Professionals, in: The Illusion of Control, chapter 0, pages 257-282, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-31785-9_14
    DOI: 10.1007/978-3-031-31785-9_14
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:mgmchp:978-3-031-31785-9_14. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.