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Probabilistic Risk Analysis and Bayesian Decision Theory (Paperback, 1st ed. 2022) Loot Price: R1,676
Discovery Miles 16 760
Probabilistic Risk Analysis and Bayesian Decision Theory (Paperback, 1st ed. 2022): Marcel van Oijen, Mark Brewer

Probabilistic Risk Analysis and Bayesian Decision Theory (Paperback, 1st ed. 2022)

Marcel van Oijen, Mark Brewer

Series: SpringerBriefs in Statistics

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Loot Price R1,676 Discovery Miles 16 760 | Repayment Terms: R157 pm x 12*

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The book shows how risk, defined as the statistical expectation of loss, can be formally decomposed as the product of two terms: hazard probability and system vulnerability. This requires a specific definition of vulnerability that replaces the many fuzzy definitions abounding in the literature. The approach is expanded to more complex risk analysis with three components rather than two, and with various definitions of hazard. Equations are derived to quantify the uncertainty of each risk component and show how the approach relates to Bayesian decision theory. Intended for statisticians, environmental scientists and risk analysts interested in the theory and application of risk analysis, this book provides precise definitions, new theory, and many examples with full computer code. The approach is based on straightforward use of probability theory which brings rigour and clarity. Only a moderate knowledge and understanding of probability theory is expected from the reader.

General

Imprint: Springer International Publishing AG
Country of origin: Switzerland
Series: SpringerBriefs in Statistics
Release date: November 2022
First published: 2022
Authors: Marcel van Oijen • Mark Brewer
Dimensions: 235 x 155mm (L x W)
Format: Paperback
Pages: 114
Edition: 1st ed. 2022
ISBN-13: 978-3-03-116332-6
Categories: Books > Science & Mathematics > Mathematics > Probability & statistics
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LSN: 3-03-116332-X
Barcode: 9783031163326

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