Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 27, 2024

Using ISO 31000 or IBM framework answer the following issue. a) discuss how probability distribution are used in estimating risk and future losses. b) explain

Using ISO 31000 or IBM framework answer the following issue.

a) discuss how probability distribution are used in estimating risk and future losses. b) explain why the standard deviation represents risk. c) Provide a statement of the overall goal of the risk management function in an enterprise.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Linear Algebra

Authors: Ron Larson

8th Edition

1305887824, 9781305887824

More Books

Students also viewed these Mathematics questions

Question

★★★★★

A large air separation plant takes in ambient air (79% N2, 21% O2 by mole) at 100 kPa, 20°C, at a rate of 25 kg/s. It discharges a stream of pure O2 gas at 200 kPa, 100°C, and a stream of...

Answered: 1 week ago

Question

★★★★★

A small company manufacturers bicycles in two different sized. David, the company's owner-manager, has just received the following forecasts for demands for the next six months. a. Under what...

Answered: 1 week ago

Question

★★★★★

Three boxes contain b blue and r red chips each. We select a chip at random from the first box and place it in the second box. Then we select a chip from the second box and place it in the third. If...

Answered: 1 week ago

Question

★★★★★

L. R. Updike owns a department store that has a $50,000 balance in Accounts Receivable and a $2,500 credit balance in Allowance for Doubtful Accounts. 1. Determine the net realizable value of the...

Answered: 1 week ago

Question

★★★★★

please answer both questions, greatly appreciated! Question 1 question 2 Swifty Inc: has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based...

Answered: 1 week ago

Question

★★★★★

Identify and briefly describe a concept from an operational excellence course that was especially relevant or meaningful. How can this concept challenge an understanding or prompt a person to grow as...

Answered: 1 week ago

Question

★★★★★

Assume that the classical economic order quantity model suggests Q0 = 25 for a certain item. However, for some practical reasons the order quantity has to be a multiple of 10. What is then the best...

Answered: 1 week ago

Question

★★★★★

b) At a certain terminal, the arrival distribution of trucks is found to be Poisson with 3 trucks arriving per hour. The service time is exponentially distributed with unloading rate of 4 trucks per...

Answered: 1 week ago

Question

★★★★★

From the perspective of a training manager (or professional trainer) how does the analysis of the work environment help 1) diagnose performance problems. 2) contribute to the success or failure of...

Answered: 1 week ago

Question

★★★★★

He noticed that steel drums were in the hole, and noticed they were leaking. He called the county and they investigated. There were toxic chemicals going into the ground. Below the ground was the...

Answered: 1 week ago

Question

★★★★★

I need help expanding on this essay about this case study. Here is the summary I got for you and I will also attach the reading incase you need it. Please help me get 6 references for this that tie...

Answered: 1 week ago

Question

★★★★★

Values: What is important to me?

Answered: 1 week ago

Question

★★★★★

Purpose: What do we seek to achieve with our behaviour?

Answered: 1 week ago

Previous Question Next Question