Applied Probability: Birthday Problem, Availability, Gaming Mathematics, High Availability, Dutch Book, Empirical Probability

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General Books LLC, 2010 - 56 pages
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 96. Chapters: Risk, 100-year flood, Safety engineering, Birthday problem, Risk management, Biosafety, Precautionary principle, Actuary, Availability, Emergency, Cartagena Protocol on Biosafety, System dynamics, Moral hazard, Decision theory, Social vulnerability, Risk aversion, Human reliability, Cultural cognition, Gaming mathematics, Substantial equivalence, Risk perception, High availability, Systems thinking, Cultural Theory of risk, High reliability organization, Operational risk, Peter L. Bernstein, Buffon's needle, Amplitude-shift keying, Safety Integrity Level, InfoSTEP, Scenario analysis, Operational risk management, Risk society, Biosafety Clearing-House, Economics of security, Security risk, ALARP, Safety instrumented system, Catastrophe modeling, Digital Repository Audit Method Based on Risk Assessment, Social risk management, Dutch book, Stunt performer, Risk-based inspection, Circular error probable, Risk factor, Bill Durodi, Empirical probability, Risk analysis, Risk neutral, Knightian uncertainty, Statistical interference, Prudent avoidance principle, Pseudocertainty effect, Insurable risk, RISKS Digest, Banach's matchbox problem, Risk-loving, International Risk Governance Council, NIBHV, Residual risk, Sampling risk, Consumer's risk, GRCM, Risk theory, Manufactured risk, A posteriori probability. Excerpt: An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries provide expert assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms (Trowbridge 1989, p. 7). Actuaries mathematically evaluate the likelihood of events and quantify the contingent outcomes in order to minimize losses, both emotional and financial, associated with uncertain undesirable events. Since many events, such as death, cannot be avoid...

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