I have asked a number participants (contractors, owners, constants and subcontractors) by means of questionnaire who were randomly selected to specify frequency of occurrence of risk factors based on five point likert-scale ranging from 1 (very low) to 5 (very high). How to estimate the probability for each risk based on combined views?
Can probability represented by average, and should the analysis of variance is to be accordingly followed? or
The scale should be converted to another numerical scale?
Any suggestion please
Thanks