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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).
it is possible for the operator's work to be checked at any time; local management aim to keep the plant open despite a desperate need for re-vamping and maintenance work; if the plant is closed down for a short period, if the problems are unattended, there is a risk that it may remain closed permanently.
HEPs for each sub-task are entered into the tree; all failure branches must have a known probability, otherwise the system will fail to provide a final answer. HRAETs provide the function of breaking down the primary operator tasks into finer steps, which are represented in the form of successes and failures.
The concept has been widely employed as a metaphor in business, dating back to at least 2001. [5] It is widely used in the technology and pharmaceutical industries. [2] [3] It became a mantra and badge of honor within startup culture and particularly within the technology industry and in the United States' Silicon Valley, where it is a common part of corporate culture.
The ideal is the point at which the PSF least degrades performance – for instance both low and high time pressure may contribute to increasing the chance of failure. The MAUD software then rescales all other ratings made on the scale in terms of their distance from this ideal point, with the closest being assigned as a 1 and the furthest from ...
For small N, they may differ somewhat. The last row, "Score (logrank) test" is the result for the log-rank test, with p=0.011, the same result as the log-rank test, because the log-rank test is a special case of a Cox PH regression. The Likelihood ratio test has better behavior for small sample sizes, so it is generally preferred.
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Calculate the unconditional probability of target event and unconditional weight of evidence of middle-level influences For the various combinations of influences that have been considered, the experts identify direct estimates of the likelihood of either success or failure. 8. Compare these results to the holistic judgements of HEPs by the ...