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probabilistic risk assessment

Risk evaluation involving the calculation and expression of risks using multiple risk descriptors to provide the likelihood of various risk levels. Probabilistic risk results approximate a full range of possible outcomes and the likelihood of each, which often is presented as a frequency distribution graph, thus allowing uncertainty or variability to be expressed quantitatively.
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Entry Terms:
  • stochastic risk analysis
  • stochastic risk assessment
  • stochastic risk model
  • probabilistic risk analysis
  • probabilistic risk model
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RDF/XMLCreated 2010-08-27, last modified 2013-01-18