Abstract:
Design and development of a product in the early stage of production is based on cost estimation. This paper aims at presenting the compared results of the application of two different approaches –namely regression model and fuzzy logic for the estimation of the cost. Fuzzy cost estimation is based on data needed to estimate the cost, which sometimes is imprecise or uncertain. Also at the early stages of design, the knowledge required to estimate the cost is not available accurately to use the regression technique. Therefore, this paper investigates the possibility of applying fuzzy logic in cost estimation for producing a pressure vessel as a case study.