Pramote Cholayudth, cpramote2000@yahoo.com, is the founder and manager of PM Consult. He is an industrial pharmacist with more than 40 years of experience. He is a guest speaker on process validation ...

In order to get a more accurate estimate of the probability, we would need to look at a greater number of trials. Let’s imagine we have a bag containing two different types of sweet but we do not know ...

Basel II adopting banks estimate and validate long-run probability of default (LRPD) for each of their internal risk ratings. In this study, we examine alternative methodologies in estimating and ...

Probabilities can be written as fractions, decimals or percentages on a scale from 0 to 1. Knowing basic facts about equally likely outcomes can help to solve more complicated problems. Probability is ...

A firm grasp of probability and ongoing re-evaluation are key. Has risk management gone mainstream? One might think so given the June 13, 2011 article in the Chicago Tribune on using the game of poker ...