Explain in your own words the role that data can play in, Engineering Mathematics

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Explain in your own words the role that data can play in

Question: 1. Explain in your own words the role that data can play in the development of models of uncertainty in decision analysis.

2. Why might a decision maker be reluctant to make subjective probability judgments when historical data are available? In what sense does the use of data still involve subjective judgments?

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Engineering Mathematics: Explain in your own words the role that data can play in

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Engineering Mathematics: Explain in your own words the role that data can play in

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