Equation for Risk Solution

STEP 0: Pre-Calculation Summary
Formula Used
Risk = 1-(1-Probability)^Successive Years
R = 1-(1-p)^n
This formula uses 3 Variables
Variables Used
Risk - Risk is the probability of occurrence of an event at least once over a period of n successive years.
Probability - Probability of occurrence of an event (x ≥ xt), of how likely an event is to occur, or how likely it is that a proposition is true.
Successive Years - Successive Years following in order.
STEP 1: Convert Input(s) to Base Unit
Probability: 0.006667 --> No Conversion Required
Successive Years: 10 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
R = 1-(1-p)^n --> 1-(1-0.006667)^10
Evaluating ... ...
R = 0.0647049492873479
STEP 3: Convert Result to Output's Unit
0.0647049492873479 --> No Conversion Required
FINAL ANSWER
0.0647049492873479 0.064705 <-- Risk
(Calculation completed in 00.004 seconds)

Credits

Created by Mithila Muthamma PA
Coorg Institute of Technology (CIT), Coorg
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11 Risk, Reliability and Safety Factor Calculators

Value of Parameter obtained from Hydrological Considerations given Safety Factor
Go Value of Parameter = Actual Value of the Parameter/Safety Factor
Actual Value of Parameter Adopted in Design of Project given Safety Factor
Go Actual Value of the Parameter = Safety Factor*Value of Parameter
Equation for Safety Factor
Go Safety Factor = Actual Value of the Parameter/Value of Parameter
Equation for Safety Margin
Go Safety Margin = Actual Value of the Parameter-Value of Parameter
Reliability using Return Period
Go Reliability = (1-(1/Return Period))^Successive Years
Equation for Risk given Return Period
Go Risk = 1-(1-(1/Return Period))^Successive Years
Equation for Risk
Go Risk = 1-(1-Probability)^Successive Years
Probability given Return Period
Go Probability = 1/Return Period
Return Period given Probability
Go Return Period = 1/Probability
Reliability given Risk
Go Reliability = 1-Risk
Risk given Reliability
Go Risk = 1-Reliability

Equation for Risk Formula

Risk = 1-(1-Probability)^Successive Years
R = 1-(1-p)^n

What is The Log-Pearson Type III distribution?

The Log-Pearson Type III distribution is a statistical technique for fitting frequency distribution data to predict the design flood for a river at some site. Once the statistical information is calculated for the river site, a frequency distribution can be constructed.

How to Calculate Equation for Risk?

Equation for Risk calculator uses Risk = 1-(1-Probability)^Successive Years to calculate the Risk, The Equation for Risk formula is defined as the probability of occurrence of an event at least once throughout 'n' successive years. Risk is denoted by R symbol.

How to calculate Equation for Risk using this online calculator? To use this online calculator for Equation for Risk, enter Probability (p) & Successive Years (n) and hit the calculate button. Here is how the Equation for Risk calculation can be explained with given input values -> 0.064705 = 1-(1-0.006667)^10.

FAQ

What is Equation for Risk?
The Equation for Risk formula is defined as the probability of occurrence of an event at least once throughout 'n' successive years and is represented as R = 1-(1-p)^n or Risk = 1-(1-Probability)^Successive Years. Probability of occurrence of an event (x ≥ xt), of how likely an event is to occur, or how likely it is that a proposition is true & Successive Years following in order.
How to calculate Equation for Risk?
The Equation for Risk formula is defined as the probability of occurrence of an event at least once throughout 'n' successive years is calculated using Risk = 1-(1-Probability)^Successive Years. To calculate Equation for Risk, you need Probability (p) & Successive Years (n). With our tool, you need to enter the respective value for Probability & Successive Years and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
How many ways are there to calculate Risk?
In this formula, Risk uses Probability & Successive Years. We can use 2 other way(s) to calculate the same, which is/are as follows -
  • Risk = 1-(1-(1/Return Period))^Successive Years
  • Risk = 1-Reliability
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