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These superiorities are enhanced when probability quantification, flexibility and generalizability of the Bayesian change point detection model are also considered.
In comparison with built-in estimators of EWMA and CUSUM and ML-based estimators, the Bayesian estimator performs reasonably well and remains a strong alternative, particularly when other criteria such as probability quantification through credible intervals and probabilistic inferences, flexibility, generalization, and simplicity are taken into accounts.
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Instead of estimating simple probabilities, the Bayesian approach leads to the quantification of probability density functions, or probabilities with associated uncertainties.
The approach is to distinguish between functional and performance probabilities when dealing with the quantification of the overall probability of a system to perform a given function in a given period of time (reliability).
In the step of hazard quantification, the probability of one hazard triggered by some uncontained debris is evaluated.
The procedure was used for the identification of situations of potential risk during the operation of the plant and, coupled with the Fault Tree algorithm, in the successive quantification of probability of occurrence of the different potential Top Events.
This chapter discusses the quantitative credit risk analytics required to perform credit engineering tasks, specifically the quantification of probability of default, losses given a default event, Value at Risk, and other related topics in the credit risk and market risk world.
Each of the historical events (host switch, duplication, and extinction) has some probability of occurrence, the quantification of which is beyond the scope of this paper.
This model has been shown to be a reasonable method for quantification of probability using Hill criteria on the body of the literature that a particular substance is a carcinogen, validated on established IARC category 1 and 2A agents.
An improved process to identify and analyze risks using the source-event, risk path, and quantification using probability-impact-significance of coordination concept are incorporated.
Therefore, we explored the potential impact of modifying PCR conditions on priming probabilities during qPCR quantifications with test primers containing a mismatch near the 3' end.
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