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Probabilistic simulations were carried out to account for the effect of uncertainty regarding the model inputs on cost-effectiveness.
"The result was a cascading effect of uncertainty and doubt".
"It's the poorest in our society who will feel the chilling effect of uncertainty first".
"They have created a domino effect of uncertainty," Mr. Biderman said.
Ian Stewart, Deloitte's chief economist, said: "The results illustrate the corrosive effect of uncertainty on corporate spending: 87% of finance directors believe this is a bad time to be taking additional risk on to their balance sheet.
ISO9001 2015 defines risk as effect of uncertainty.
This study examines the effect of uncertainty on learning outcomes.
According to ISO 31000 2009, risk is the "effect of uncertainty on objectives".
The effect of uncertainty within a system can also be analysed.
Furthermore, the effect of uncertainty in both, design and model parameters, is accounted for.
These diagrams can further illustrate the effect of uncertainty of design parameters.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com