Lower range probabilities Archives

Limit of credibility in risk assessments

Many users invoke Limit of credibility in risk assessments but rarely discuss what this means. It is possible to establish limits on the credibility of probabilities estimates based upon the limits of human capabilities and the limits of historical evidence? Limit of credibility in risk assessments, what do we really mean? Let’s start with a couple statements that may sound like a joke. …and there was light The Big Bang universe creation occurred 1010 years ago, meaning the “history of…