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Cost estimation using ANFIS

ABSTRACT Cost function estimation is vital for decision-making in project management. In this article, a novel cost estimator is investigated based on an adaptive neuro-fuzzy inference system (ANFIS). In the numerical studies, ANFIS is tested to modeling pressure vessel cost as a case study. According to the comparative results, ANFIS shows better accuracy than multiple linear regression (MLR), Taylor Kriging (TK), and artificial neural networks (ANNs). Hence, ANFIS can be applicable to various cost function estimation problems.