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Modelling the management of underground water assets
Authors:G. H. Freeman   S. D. Jacka  J. E. H. Shaw  J. Q. Smith
Abstract:Central to the activities of any industry is the modernization of its assets. This paper describes the application of statistical methods to the asset management plan of a large water company. A model for the underground assets is given in detail, and the extensive computations required are illustrated. A Bayesian model shows the consequences of various policy options and provides realistic measures of the uncertainty connected with them.
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