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Probability encodes our beliefs about a static world.
Causality encodes under what conditions whether and how those probabilities may change.
In #riskassessment and #riskmanagement we use all three. Roughly as: historical data, estimates, and controls.
Probability encodes our beliefs about a static world.
Causality encodes under what conditions whether and how those probabilities may change.
In #riskassessment and #riskmanagement we use all three. Roughly as: historical data, estimates, and controls.