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Title: How To Build Your Own Bilateral Consumer Risk Calculation Tool, Accounting For Product And Measurement System Biases
Author: Ricardo A. Nicholas
Source: 2008 Measurement Science Conference
Year Published: 2008
Abstract: Specifics are provided to enable anyone with Microsoft Excel to develop their own computer application program to easily and quickly calculate bilateral consumer risk for any realizable combination of parameters, also taking into account the biases of the measurement system and unit under test. These biases are commonly encountered, but are currently only able to be treated in a very small number of costly not-easy-to-use commercial mathematical software programs. The affect of these biases on consumer risk should be quantified, since they can result in an actual risk of 60% in some cases when risks have been otherwise estimated to be less than 1%. It is also conversely true that the actual risk can be miniscule when they have been otherwise estimated to be as large as 60%. Your own bilateral consumer risk calculation tool will enable you to estimate the actual risk, thereby avoiding overly restrictive or overly liberal measurement consequences. Theory and application guidance, as well as all actual cell formulas expressed in both Excel and basic mathematical forms are provided. The principles of this method and first-generation copies of the Excel worksheets have previously been presented by this author and published in the MSC proceedings of 1999 entitled, Measurement Decision Risk Simplified.

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