Degree of Certainty

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DEGREE OF CERTAINTY

DEGREE OF CERTAINTY
Certainty
Uncertainty
Risk
Certainty
Assume complete knowledge
All potential outcomes know
Easy to develop
Resolution determined easily
Can be very complex
Uncertainty
Several outcomes for each decision
Probability of occurrence of each outcome
unknown
Insufficient information
Optimistic approaches
Risk
Decision under risk
Probability of each several possible outcomes
occuring
Risk analysis
DIMENSIONALITY
Dimensionality
It analysis a general method of determine the
form of solutions to physical problems. It is
illustrated by an example from physical and
description of application to some OR
problem.

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