How Accurate Are Expert Estimations of Correlation?

Research output: Chapter in book/report/conference proceeding › Conference contribution › Research › peer review

Authors

  • Michael Beer
  • Zitong Gong
  • Francisco Alejandro Diaz De La O
  • Vladik Kreinovich

Research Organisations

External Research Organisations

  • University of Liverpool
  • Tongji University
  • University of Texas at El Paso
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Details

Original languageEnglish
Title of host publication2017 IEEE Symposium Series on Computational Intelligence, SSCI 2017 - Proceedings
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages1-9
Number of pages9
ISBN (electronic)9781538627266
ISBN (print)9781538627273
Publication statusPublished - 2017
Event2017 IEEE Symposium Series on Computational Intelligence, SSCI 2017 - Honolulu, United States
Duration: 27 Nov 2017 → 1 Dec 2017

Abstract

In many practical situations, it is important to know the correlation between different quantities - finding correlations helps to gain insights into various relationships and phenomena, and helps to inform analysts. Often, there is not enough empirical data to experimentally determine all possible correlations. In such cases, a natural idea is to supplement this situation with expert estimates. Expert estimates are rather crude. So, to decide whether to act based on these estimates, it is desirable to know how accurate are expert estimates. In this paper, we propose several techniques for gauging this accuracy.

Keywords

    correlation, expert estimates, fuzzy sets, uncertainty, vagueness

ASJC Scopus subject areas

Cite this

How Accurate Are Expert Estimations of Correlation? / Beer, Michael; Gong, Zitong; Diaz De La O, Francisco Alejandro et al.
2017 IEEE Symposium Series on Computational Intelligence, SSCI 2017 - Proceedings. Institute of Electrical and Electronics Engineers Inc., 2017. p. 1-9.

Research output: Chapter in book/report/conference proceeding › Conference contribution › Research › peer review

Beer, M, Gong, Z, Diaz De La O, FA & Kreinovich, V 2017, How Accurate Are Expert Estimations of Correlation? in 2017 IEEE Symposium Series on Computational Intelligence, SSCI 2017 - Proceedings. Institute of Electrical and Electronics Engineers Inc., pp. 1-9, 2017 IEEE Symposium Series on Computational Intelligence, SSCI 2017, Honolulu, United States, 27 Nov 2017. https://doi.org/10.1109/SSCI.2017.8280790
Beer, M., Gong, Z., Diaz De La O, F. A., & Kreinovich, V. (2017). How Accurate Are Expert Estimations of Correlation? In 2017 IEEE Symposium Series on Computational Intelligence, SSCI 2017 - Proceedings (pp. 1-9). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/SSCI.2017.8280790
Beer M, Gong Z, Diaz De La O FA, Kreinovich V. How Accurate Are Expert Estimations of Correlation? In 2017 IEEE Symposium Series on Computational Intelligence, SSCI 2017 - Proceedings. Institute of Electrical and Electronics Engineers Inc. 2017. p. 1-9 doi: 10.1109/SSCI.2017.8280790
Beer, Michael ; Gong, Zitong ; Diaz De La O, Francisco Alejandro et al. / How Accurate Are Expert Estimations of Correlation?. 2017 IEEE Symposium Series on Computational Intelligence, SSCI 2017 - Proceedings. Institute of Electrical and Electronics Engineers Inc., 2017. pp. 1-9
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abstract = "In many practical situations, it is important to know the correlation between different quantities - finding correlations helps to gain insights into various relationships and phenomena, and helps to inform analysts. Often, there is not enough empirical data to experimentally determine all possible correlations. In such cases, a natural idea is to supplement this situation with expert estimates. Expert estimates are rather crude. So, to decide whether to act based on these estimates, it is desirable to know how accurate are expert estimates. In this paper, we propose several techniques for gauging this accuracy.",
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