Come learn from a distinguished professor about new computational methods being applied to cost estimation, an important part of production environments and service industries.
Cost Estimation Using Clustering and Splines
Presented by Alice E. Smith, distinguished professor, Department of Industrial and Systems Engineering and Department of Computer Science and Software Engineering, Auburn University
Friday, January 19, 2018
Brickyard (BYENG) 210, Tempe campus [map]
Alice E. Smith of Auburn University presents some computational methods which have not previously been used for cost estimation, with a focus on cost estimation for new products or services which are variants of existing or previous products or services. Cost drivers using metrics of both continuous real values and categorical values are considered together. An empirical approach is taken, using clustering and splines. These approaches are compared with each other and with the well-known cost estimation empirical model of polynomial regression. Smith will use four actual case studies from manufacturing industries to evaluate the performance and practicality of these new approaches. These discussions are also metrics for clustering both real and categorical variables, and approaches for choosing an appropriate number of clusters.
About the speaker
Alice E. Smith is the Joe W. Foreh and Accenture Distinguished Professor of the Industrial Systems Engineering Department at Auburn University, where she served as Department Chair from 1999-2011. She also has a joint appointment with the Department of Computer Science and Software Engineering.
Smith’s research focus is analysis, modeling and optimization of complex systems with emphasis on computation inspired by natural systems. She holds one U.S. patent and several international patents, and she has authored more than 200 publications.
Smith has been a principal investigator on over $7.5 million of sponsored research with funding by NASA, the U.S. Department of Defense, Missile Defense Agency, National Security Agency, NIST, the U.S. Department of Transportation, Lockheed Martin, Adtranz, the Ben Franklin Technology Center of Western Pennsylvania and the U.S. National Science Foundation. International research collaborations have been sponsored by Germany, Mexico, Japan, Turkey, the United Kingdom, the Netherlands, Egypt, South Korea, Iraq, China, Colombia, Chile, Algeria and the United States.
Additionally, she is a fellow of the Institute of Electrical Engineers, the Institute of Electrical and Electronics Engineers and a senior member of the Society of Women Engineers.