Question

How does expected probability affect your evaluation of risk? Describe it with the help of example in the context of engineering.

Answer 1

The expected probablity helps in accurate evaluation of risks involved in a process or action . It helps and guides us to know the output possibilities of our current actions , so that appropriate actions are made to lower the risks as low as possible . Risks have negative impacts , so lesser risks promotes healthy outcomes in output of a process .

For example : Expected probability of failure of any component in a large production line will help us to know risks involved with respect to production going on , so that it will help us to make the production line work continuously with full efficiency giving required output in time !!