Prediction Of Product Costs Based On Mathematical Statistics

Abstract:

For Design Engineering and its Management it is often necessary to decide which variant of a designed technical product should be utilized. To achieve it, is advantageous to determine which parameters - “key drivers” of a product have the highest impact on its key properties to evaluate and select the suboptimal alternative. Functions of mathematical statistics can be used to predict in this way unknown numerical values of product properties like costs or prices, etc. Correlation and linear regression have been used in the presented case study.

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