Stats4Grads: Decision Making and Planning Under Uncertainty
18 November 2015 13:00 in CM105
At the time investment decisions are made there may be uncertainty in many aspects which affect a decision and its outcome.
Further, work with expensive simulators can make it difficult to asses how uncertainty in input affects output.
An example will be presented which will consider transmission expansion planning (building new power lines) under uncertainty
and how statistical emulators are a useful tool for approximating simulators and adequately considering uncertainties
when making a decision.
Contact email@example.com for more information
See the Stats4Grads page for more details about this series.