The book shows how risk, defined as the statistical expectation of loss, can be formally decomposed as the product of two terms: hazard probability and system v

This book describes how Bayesian methods work. Its primary aim is to demystify them, and to show readers: Bayesian thinking isn’t difficult and can be used in

A graduate level textbook on probabilistic risk analysis, aimed at statisticians, operations researchers and engineers.

Since the first edition of this book published, Bayesian networks have become even more important for applications in a vast array of fields. This second editio

To better understand the core concepts of probability and to see how they affect real-world decisions about design and system performance, engineers and scienti