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Tag Archives: Assumptions
Models, assumptions, risks and consequences.
Expressing real life situations as mathematical models drive decisions on how to respond appropriately. Assumptions are not facts but do have a probability of occurring. Confidence in a model is an important factor of both the likelihood of the assumptions being correct and the quality and quantity of the data … Continue reading
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Tagged Assumptions, Consequences, Covid-19, Decision making, Modelling, Risk
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Qualifying assumptions
Whilst acknowledging that capturing ‘all’ information relevant to making a decision about implementing a business initiative is not possible there is a real issue that needs to be addressed with how assumptions are managed. Often an assumption is accepted as … Continue reading
The Knowledge Economy 