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In the generic sense of modeling a typical response like stress, the result of using either of these methods is unknown. Assuming the input distributions are correct, applying worst case scenarios is too conservative. Applying safety factors to a nominal solution can result in either too much or too little conservatism with no method to compute risk or probability of occurrence.
Probabilistic engineering design relies on statistical distributions applied to the input variables to assess reliability, or probability of failure, in the output variable by specifying a design point. Any response value passing beyond this design point (also referred to as the most probable point, or MPP) is considered in the failure region...
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