Operations on Risk Variables
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Date
2015
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Publisher
Uniwersytet SzczeciĆski
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Abstract
In the article the author considers and analyzes operations and functions on risk variables. She takes into account the following variables: the sum of risk variables, its product, multiplication by a constant, division, maximum, minimum and median of a sum of random variables. She receives the formulas for probability distribution and basic distribution parameters. She conducts the analysis for dependent and independent random variables. She propose the examples of the situations in the economy and production management of risk modelled by this operations. The analysis is conducted with the way of mathematical proving. Some of the formulas presented are taken from the literature but others are the permanent results of the author.
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Keywords
risk variables, opertions, risk measurement, risk management
Citation
Folia Oeconomica Stetinensia vol. 15 (2), pp, 42-52
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ISBN
ISSN
1730-4237