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301762 (v.3) Risk and Uncertainty 616
Area: Department of Petroleum Engineering Contact Hours: 10.0 Credits: 25.0 Lecture: 1 x 20 Hours Tutorial: 1 x 20 Hours
Properties and Applications of Probability Distributions, Appraisal of Uncertain Ventures, Simulation - Monte Carlo Method, Decision Trees and Economic Models, Evaluation of Expected Discoveries in Mature Regions, Bayes Strategies and Estimates of Value, Risking of Hydrocarbon Reserves.
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