Abstract: Building a parametric cost model is hard work. The data is noisy and often does not behave like we want it to. We need statistics to give us an indication of the goodness of our models, but; statistics can be manipulated and mislead. On top of all of that, our own very human biases can lead us astray; causing us to see patterns in the noise and draw false conclusions from the data. Yet, it is the data itself that is the foundation for making better cost estimates and cost models. I believe th…