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Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm).
Failure rate is the frequency with which any system or component fails, expressed in failures per unit of time. It thus depends on the system conditions, time interval, and total number of systems under study. [1]
The 'bathtub curve' hazard function (blue, upper solid line) is a combination of a decreasing hazard of early failure (red dotted line) and an increasing hazard of wear-out failure (yellow dotted line), plus some constant hazard of random failure (green, lower solid line). The bathtub curve is a particular shape of a failure rate graph.
Also confidence coefficient. A number indicating the probability that the confidence interval (range) captures the true population mean. For example, a confidence interval with a 95% confidence level has a 95% chance of capturing the population mean. Technically, this means that, if the experiment were repeated many times, 95% of the CIs computed at this level would contain the true population ...
A special-cause failure is a failure that can be corrected by changing a component or process, whereas a common-cause failure is equivalent to noise in the system and specific actions cannot be made to prevent the failure. Harry Alpert observed: A riot occurs in a certain prison.
“It’s so easy for them to access,” he points out. “It’s literally just another button push. I’m hoping if they like ‘Fun Part’ enough, they can go back and search.
The Cowboys can only hope there's something for Parsons to save. Dallas sits at 3-5 and is now facing the rest of the season without Prescott, who is headed to injured reserve and will soon ...
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