Uncertainty Analysis
Incorporating uncertainty into model outputs helps to provide more realistic and informative projections. Uncertain quantities in Analytica can be specified using a distribution function. When evaluated, distributions are sampled using either Latin hypercube or Monte Carlo sampling, and the samples are propagated through the computations to the results. The sampled result distribution and summary statistics can then be viewed directly (mean, fractile bands, probability density function (PDF), cumulative distribution function (CDF)),
Analytica supports collaborative Decision Analysis and Probability Management through the use of the DIST standard.
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Famous quotes containing the words uncertainty and/or analysis:
“Now, since our condition accommodates things to itself, and transforms them according to itself, we no longer know things in their reality; for nothing comes to us that is not altered and falsified by our Senses. When the compass, the square, and the rule are untrue, all the calculations drawn from them, all the buildings erected by their measure, are of necessity also defective and out of plumb. The uncertainty of our senses renders uncertain everything that they produce.”
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—Henry Brooks Adams (1838–1918)