TAILIEUCHUNG - Risk Assessment and Risk Management, II

Modeling Risks: “All models are wrong; some models are useful.” George Box Risk Assessment and Risk Management, II Principles of Environmental Toxicology Instructor: Gregory Möller, . University of Idaho. Why Model Risks? • Generally, modeling is performed to: – Better understand a system. – Make predictions. | Principles of Environmental Toxicology Modeling Risks All models are wrong some models are useful. George Box Risk Assessment and Risk Management II Principles of Environmental Toxicology Instructor Gregory Möller . University of Idaho 2 Principles of Environmental Toxicology Why Model Risks Generally modeling is performed to - Better understand a system. - Make predictions. Specifically risk modeling is often necessary because - Acceptable risk levels are not measurable. - Direct sampling is not feasible. 3 Principles of Environmental Toxicology Point-Deterministic Approach 4 Principles of Environmental Toxicology Monte Carlo Simulation Definition A technique by which a prediction is calculated repeatedly using randomly selected what-if trials. The results of numerous trials are plotted to represent a frequency distribution of possible outcomes allowing the likelihood of each such outcome to be estimated. Principles of Environmental Toxicology Monte Carlo Simulation History Games of chance were used in the late 19th and early 20th centuries to infer outcomes. . n was estimated by how often a haphazardly tossed pin intersected lines on a grid. The term Monte Carlo came into use to describe this process at Los Alamos National Laboratory in the late 1940s. Intensive application of the process started in the 1950s. 6 5 Page 1 Principles of Environmental Toxicology Available Tools Excel or Lotus Monte Carlo simulation addin programs. Crystal Ball - User friendly. - Good graphics. @Risk - Powerful. - Large selection of distributions. 7 Principles of Environmental Toxicology Stochastic Approach 8 Principles of Environmental Toxicology Stochastic vs. Deterministic Similarities - Both approaches operate on the same fundamental model structure. - Both approaches generally utilize the same data. Principles of Environmental Toxicology Stochastic vs. Deterministic 2 Differences. - Stochastic approach utilizes complete distributions deterministic approach utilizes a .

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