What's the worst that could happen?

Error and Uncertainty in Google Sheets

Evan Kramer

Instructor

A likely story

  • Risk = Likelihood X consequences

Likelihood-consequence matrix for assessing risk

Error and Uncertainty in Google Sheets

Who wants to be a millionaire

  • Example: lottery
    • Consequences: $1,000,000
    • Likelihood: 1 / 11,688,053.52
Error and Uncertainty in Google Sheets

Another risk example

  • Consequence: actual or predicted injuries
  • Likelihood: crash frequency

Data table of car crashes including columns for consequence, likelihood, and computed risk

Error and Uncertainty in Google Sheets

Review: useful functions

  • FORECAST(): Predicts values
  • SUMIF(): Add values from rows that meet criteria
Error and Uncertainty in Google Sheets

Let's practice!

Error and Uncertainty in Google Sheets

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