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Probabilistic Risk Analysis and Bayesian Decision Theory (SpringerBriefs in

Description: 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.

Price: 44.85 GBP

Location: Gloucester

End Time: 2025-01-26T05:10:09.000Z

Shipping Cost: 28.56 GBP

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Probabilistic Risk Analysis and Bayesian Decision Theory (SpringerBriefs inProbabilistic Risk Analysis and Bayesian Decision Theory (SpringerBriefs in

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EAN: 9783031163326

UPC: 9783031163326

ISBN: 9783031163326

MPN: N/A

Format: Paperback, 114 pages, 2022 Edition

Author: Brewer, Mark

Item Height: 0.7 cm

Item Length: 23.4 cm

Item Weight: 0.21 kg

Item Width: 15.6 cm

Language: Eng

Publication Name: N/A

Publisher: Springer International Publishing AG

Type: N/A

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