When Planning the Repair (Pulling)sequence, What Are the Two Basic

question 16

Essay

When planning the repair (pulling)sequence, what are the two basic guides that you should remember in order to ensure that misalignment and damage will be corrected with minimum metalworking and without further damage?

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Definitions:

Expected Value

The projected value of a variable, calculated as an average weighted by probabilities in statistical analysis.

Expected Monetary Value

A statistical technique to calculate the average outcome when the future includes scenarios that may or may not happen.

State of Nature Node

A decision analysis tool used to represent possible future events or outcomes in decision making under uncertainty.

State of Nature

A term used in decision theory and statistics to describe possible outcomes in a situation which are not under the control of the decision-maker.