The authors provide an overview of their research into the attitudes of UK managers to risk and uncertainty. They find that, when it comes to decision making, managers in UK enterprises tend to focus on loss aversion rather than risk aversion. They found that managers’ personal attitudes to...

The use of a deterministic numeric paradigm in auditing and accounting may well be the root cause of many current problems. This paper argues that risk‐based accounting methods should start using probabilistic inputs which would show resultant distributions as output. “Stochastic...

This paper explores the potential of dynamic statistics software for supporting the early teaching and learning of statistical and probabilistic concepts integrated within the mathematics curriculum. It shares the experiences from a case study that implemented a data-driven approach to...

Literature on project management contains an abundancy of references to abnormally high project cost overruns as well as bitter complaints that modern risk quantification methods could not accurately predict project cost outcomes in many cases. This article provides a) an explanation of...

Summary Though there is a huge variety of different Tchebycheff-type inequalities in the literature a systematised structuring is missing. The few existing surveys remain rather enumerative. Therefore in this paper a structuring of Tchebycheff-type inequalities is suggested which is based on...

A batch size model developed for the therapeutic product problem has been instrumental in assisting the staff of a large general hospital to resolve problems associated with the transactional process of the preparation of intravenous medications for administration. The model is a variation of a...