Stochastic Analysis

Analysis in which a probabilistic approach is taken to model the random nature of the variables of interest. NOTE In general, a linear(ized) stochastic analysis can be performed in the frequency domain or in the time domain, whereas non-linear stochastic analysis can only use time domain simulations. This part of ISO 19905 does not support frequency domain stochastic analysis.

Source: ISO 19905-1:202, Petroleum and natural gas industries – Site-specific assessment of mobile offshore units – Part 1: Jack-ups. Global Standards

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