BAYESIAN STATISTICAL INFERENCE AS THE APPLICATION TO ENVIRONMENTAL RISK MANAGEMENT IN TERMS OF THE OIL-REFINING INDUSTRY

Article justifies the alternative tool to assess probability in terms of the oil-refining environmental risks. Authors give the mathematical framework for environmental risks’ assessment based on the Bayesian statistical inference and experimental data on the degree of pollution.

Authors: R. S. Goldberg, V. V. Yaschenko

Direction: Quality Management, innovation and crisis Management

Keywords: Risk management, Environmental risk, Bayesian statistical inference, Quantitative risk assessment

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