
Be the first to like this
Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. See our User Agreement and Privacy Policy.
Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. See our Privacy Policy and User Agreement for details.
Published on
A brief introduction to Uncertainty
Be the first to like this
Clipping is a handy way to collect and organize the most important slides from a presentation. You can keep your great finds in clipboards organized around topics.
You may like to develop this slide presentation into overview of risk management by including aspects of game theory, chaos, rationality, decision theory etc. This will provide glimpses of efficacious mathematical approach to arrive at complex economical decision in a given environment for uninitiated. And, bring a logical conclusion to the relevance of probability in business processes. An avoidance or mitigation of risk is solution to the problem being identified by quantifying risk/ uncertainty or the most probable outcome of an event. To quote a recent example, it was essential for Ms. Angelina Jolie to know that she has inherited faulty BRC1 genes which is a risk factor for breast and ovarian cancer but more important is proactiveness or a decision to undergo double mastectomy to rule out or minimize most likely outcome due to high degree of susceptibility. And, prioritize sequence of treatment by going first for mastectomy, a more complex surgery rather than removal of ovary which is less likely to get affected by previous recorded experiences.
It is a great share from you time, Thansk for sparing yoru time to share your knoledge with us. This is a must read