Search results
Results from the WOW.Com Content Network
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).
Scoring methods, even with weighting, tend to equalize all the requirements. But a few requirements are "must haves". If enough minor criteria are listed, it is possible for them to add up and select an option that misses a "must have" requirement. The values assigned to each option are guesses, not based on any quantitative measurements.
In this example a company should prefer product B's risk and payoffs under realistic risk preference coefficients. Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine).
A commonly used weighting is the A-weighting curve, which results in units of dBA sound pressure level. Because the frequency response of human hearing varies with loudness, the A-weighting curve is correct only at a level of 40- phon and other curves known as B- , C- and D-weighting are also used, the latter being particularly intended for the ...
In decision theory, the weighted sum model (WSM), [1] [2] also called weighted linear combination (WLC) [3] or simple additive weighting (SAW), [4] is the best known and simplest multi-criteria decision analysis (MCDA) / multi-criteria decision making method for evaluating a number of alternatives in terms of a number of decision criteria.
In epidemiology, a risk factor or determinant is a variable associated with an increased risk of disease or infection. [ 1 ] : 38 Due to a lack of harmonization across disciplines, determinant , in its more widely accepted scientific meaning , is often used as a synonym.
The calculations and algorithms used to calculate and display risk estimates in Your Disease Risk are the product of an ongoing process of expert consensus. [2] Epidemiologists, clinicians, and other health specialists regularly review the current scientific evidence for each disease, identifying established and probable risk factors for each.
A weighting curve is a graph of a set of factors, that are used to 'weight' measured values of a variable according to their importance in relation to some outcome. An important example is frequency weighting in sound level measurement where a specific set of weighting curves known as A-, B-, C-, and D-weighting as defined in IEC 61672 [1] are used.