January 2006

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HP Control: Choosing inferential modeling tools

Goel and Shah of Reliance Industries in India published a recent article, claiming that spreadsheet regression is the preferred choice for inferential modeling based on price considerations.1 Since co..

Friedman, Y. Z., Petrocontrol

Goel and Shah of Reliance Industries in India published a recent article, claiming that spreadsheet regression is the preferred choice for inferential modeling based on price considerations.1 Since concepts of "cheap" and "expensive" correlate with labor rates, that claim may be valid in India, but what about the rest of us? Before delving into this question, some comments on the accuracy of the claim are due. Simulation versus first-principles inferentials. Goel and Shah assert that first-principles inferentials methodology involves rigorous simulation. That could be true, in the sense that rigorous simulation is based on first principles. However, the complex problem of inferring via t

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