"Decisions, decisions, decisions in an uncertain environment" by Noel Cressie
Decision-makers abhor uncertainty, and it is certainly true that the less there is of it the better. However, recognizing that uncertainty is part of the equation, particularly for deciding on environmental policy, is a prerequisite for making wise decisions. Even making no decision is a decision that has consequences, and using the presence of uncertainty as the reason for failing to act is a poor excuse. Statistical science is the science of uncertainty, and it should play a critical role in the decision-making process. This opinion piece focuses on the summit of the knowledge pyramid that s...
Source: uow.edu.au