We use the very large Millennium Simulation of the concordance ΛCDM
cosmogony to calibrate the bias and error distribution of Timing Argument
estimators of the masses of the Local Group and of the Milky Way. From a large
number of isolated spiral-spiral pairs similar to the Milky Way/Andromeda
system, we find the interquartile range of the ratio of timing mass to true
mass to be a factor of 1.8, while the 5% and 95% points of the distribution of
this ratio are separated by a factor of 5.7. Here we define true mass as the
sum of the ``virial'' masses M200 of the two dominant galaxies. For
current best values of the distance and approach velocity of Andromeda this
leads to a median likelihood estimate of the true mass of the Local Group of
5.27\times 10^{12}\msun, or logMLG/M⊙=12.72, with an
interquartile range of [12.58,12.83] and a 5% to 95% range of [12.26,13.01]. Thus a 95% lower confidence limit on the true mass of the Local Group
is 1.81\times 10^{12}\msun. A timing estimate of the Milky Way's mass based
on the large recession velocity observed for the distant satellite Leo I works
equally well, although with larger systematic uncertainties. It gives an
estimated virial mass for the Milky Way of 2.43 \times 10^{12}\msun with a
95% lower confidence limit of 0.80 \times 10^{12}\msun.Comment: 11 pages, 6 figures, MNRAS accepted. Added a new discussion paragraph
and a new figure regarding the relative transverse velocity but conclusions
unchange