The purpose of this book is to present concepts in a statistical treatment of risks. Such knowledge facilitates the understanding of the in?uence of random phenomena and gives a deeper knowledge of the possibilities o?ered by and algorithms found in certain software packages. Since Bayesian methods are frequently used in this ?eld, a reasonable proportion of the presentation is devoted to such techniques. The text is written with student in mind - a student who has studied - ementary undergraduate courses in engineering mathematics, may be incl- ing a minor course in statistics. Even though...