Models, by definition, are approximations: useful, informative, and inevitably incomplete, because they are the only way to ...

Uncertainty quantification (UQ) is a field of study that focuses on understanding, modeling, and reducing uncertainties in computational models and real-world systems. It is widely used in engineering ...

Global climate models capture many of the processes that shape Earth's weather and climate. Based on physics, chemistry, ...

This paper discusses a Bayesian approach to analyzing cost efficiency of Distribution System Operators when model specification and variable selection are difficult to determine. Bayesian model ...

In biopharmaceutical manufacturing the interactions between cells, nutrients, and reagents in culture determine product quality. The big challenge for process developers is modeling these complex ...

SEATTLE (AP) — A statistical model cited by the White House generated a slightly less grim figure Monday for a first wave of deaths from the coronavirus pandemic in the U.S. — a projection designed to ...

Discover how probability distribution methods can help predict stock market returns and improve investment decisions. Learn to assess risk and potential gains.