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A Probabilistic Approach for Mine Burial Prediction Costing Barbra, Philip Valenti, Michael Richardson, Andrei Able and Nathaniel Plant b an EEC Department, Tulane University, New Orleans, LA 70118
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A probabilistic approach is used to calculate the likelihood of certain events or outcomes based on statistical analysis.
Typically, businesses or individuals who are involved in risk management or decision-making processes use probabilistic approaches.
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The purpose of a probabilistic approach is to provide more accurate predictions or estimates by considering probability distributions and uncertainties.
The specific information required on a probabilistic approach may vary depending on the context, but it generally includes relevant data, assumptions, probability distributions, and the results of the analysis.
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