Skills: The graduates have the capability to use methods and techniques of selected areas of applied mathematics and physics in solving real-life engineering, research, and scientific problems.

Below are some examples: Means[ edit ] Using statistical notation, it is a well-known result that the mean of a function, f, of a random variable X is not necessarily the function of the mean of X.

Think of it like Charles Manson and his followers. The projections in engineering analysis usually use both the most likely rate and the most critical rate. The event creates its own conditions of possibility, rendering it unpredictable if simply for the number of variables involved.

Deterministic approach[ edit ] The simplest way of doing this, and indeed the primary method used, is to look at best estimates. A deterministic simulation, with varying scenarios for future investment return, does not provide a good way of estimating the cost of providing this guarantee.

The result provides a point estimate - the best single estimate of what the company's current solvency position is, or multiple points of estimate - depends on the problem definition.

Description The increasing industrial demand for reliable quantification and management of uncertainty in product performance forces engineers to employ probabilistic models in analysis and design, a fact that has occasioned considerable research and development activities in the field.

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Stochastic process