We provide a generic Monte Carlo method to find the alternative of maximum expected utility in a decision analysis. We define an artificial distribution on the product space of alternatives and states ...

ABSTRACT There is randomness in both the applied loads and the strength of systems. Therefore, to account for the uncertainty, the safety of the system must be quantified using its reliability. Monte ...

The following four new calculation schemes were implemented and validated through numerical experiments. A surface layer turbulence scheme using a new calculation formula that eliminates the ...

Get the latest Treasury yield forecasts, risk analysis, and default probabilities affecting investors. Click for my latest ...

The center will unite mathematicians, engineers and computer scientists at Brown, NYU and Georgia Tech to tackle longstanding ...

Scientists have used probability simulations to come to an estimate on the number of alien civilizations that might exist in our Milky Way galaxy, and the number they've arrived at is pretty specific: ...