IDS.333 | Fall 2021 | Graduate

IDS.333 Risk and Decision Analysis

Unit 2: The Forecast is Always wrong, Video 5: Flaw of Averages 1-the Concept

This discussion defines the concept of the Flaw of Averages, the mathematically false assumption that if we use average values of inputs into the system, we will obtain the average value of the system performance.

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Fall 2021
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