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IMO defines risk as ‘The mix from the frequency plus the severity on the consequence’ (MSC Circ 1023/MEPC Circ 392). Below the frequency is ‘the amount of occurrences for each device time (e.g. per annum)’ and consequence is ‘the outcome of an accident’.We use the Monte Carlo system when a difficulty is

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Personal Funds also works by using the Monte Carlo simulation as The premise for amongst its preferred portfolio instruments. The provider calculates your possible once-a-year return and standard deviation for your portfolio's latest and concentrate on allocations. According to Personalized Funds, the median scenario “represents the midpoint

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