DocumentCode
2075722
Title
Some drawbacks in using the mean probability
Author
Abramson, Lee R.
Author_Institution
US Nucl. Regulatory Commission, Washington, DC, USA
fYear
1990
fDate
3-5 Dec 1990
Firstpage
321
Lastpage
323
Abstract
Because there is often insufficient data to accurately estimate the probability P of an event, the uncertainty in P is usually expressed by an uncertainty distribution U based on the available data and expert judgment. The mean of U is often used for regulatory decision-making. However, an important drawback in using the mean is that it may destroy essential information about P contained in U. Replacing U by its mean can foreclose some options available to a decision-maker and lead to a non-conservative or an overly conservative action. Although it is sometimes useful to replace an uncertainty distribution by a single number, the mean may not be the best summary statistic. If a summary statistic is evaluated by the degree to which it reflects the uncertainty , is stable, is conservative, and provides a constant level of assurance, then a high percentile (e.g. the 85th) can be preferable to the mean
Keywords
decision theory; probability; reliability theory; mean probability; regulatory decision-making; summary statistic; uncertainty distribution; Decision making; Distribution functions; Information analysis; Power generation; Probability distribution; Random variables; Risk management; Statistical distributions; Statistics; Uncertainty;
fLanguage
English
Publisher
ieee
Conference_Titel
Uncertainty Modeling and Analysis, 1990. Proceedings., First International Symposium on
Conference_Location
College Park, MD
Print_ISBN
0-8186-2107-9
Type
conf
DOI
10.1109/ISUMA.1990.151272
Filename
151272
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