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2. Acceptance sampling - Wikipedia

   en.wikipedia.org/wiki/Acceptance_sampling

   In general, acceptance sampling is employed when one or several of the following hold: [2] testing is destructive; the cost of 100% inspection is very high; and; 100% inspection takes too long. A wide variety of acceptance sampling plans is available. For example, multiple sampling plans use more than two samples to reach a conclusion.

3. Prospect theory - Wikipedia

   en.wikipedia.org/wiki/Prospect_theory

   Maria Fanis uses prospect theory to show how risk acceptance can help domestic groups overcome collective action problems inherent to coalition building. She suggests that collective action is more likely in a perceive domain of loss because individuals become more willing to accept the risk of free riding by others.

4. Risk assessment - Wikipedia

   en.wikipedia.org/wiki/Risk_assessment

   A risk evaluation means that judgements are made on the tolerability of the identified risks, leading to risk acceptance. When risk analysis and risk evaluation are made at the same time, it is called risk assessment. [1] As of 2023, chemical risk assessment follows these 4 steps: [4] hazard characterization; exposure assessment; dose-response ...

5. Sampling risk - Wikipedia

   en.wikipedia.org/wiki/Sampling_risk

   When selecting a sampling approach there are two approaches to audit sampling: non-statistical and statistical approach.Three ways that statistical sampling can assist the auditor are: to maximize the productivity with minimum wasted effort in designing the sample, to measure the sufficiency of the evidence taken during the audit, and to analyze the results.

6. Lot quality assurance sampling - Wikipedia

   en.wikipedia.org/wiki/Lot_Quality_Assurance_Sampling

   Lot quality assurance sampling (LQAS) is a random sampling methodology, originally developed in the 1920s [1] as a method of quality control in industrial production. Compared to similar sampling techniques like stratified and cluster sampling, LQAS provides less information but often requires substantially smaller sample sizes.

7. Risk management - Wikipedia

   en.wikipedia.org/wiki/Risk_management

   Example of risk assessment: A NASA model showing areas at high risk from impact for the International Space Station. Risk management is the identification, evaluation, and prioritization of risks, [1] followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. [2]

8. Acceptance set - Wikipedia

   en.wikipedia.org/wiki/Acceptance_set

   An acceptance set (in a space with assets) is a set satisfying: . with denoting the random variable that is constantly 1 -a.s.; is directionally closed in with + + () ...

9. Own risk and solvency assessment - Wikipedia

   en.wikipedia.org/wiki/Own_Risk_and_Solvency...

   Acceptance of risk. Major strategic processes of the insurance company, as the definition of trade policies, reinsurance and asset liability management , should be revised to integrate the dimensions of risk and solvency in the decision-making process.