Single loss expectancy: The expected monetary loss every time a risk occurs is called the Single Loss Expectancy. The Single Loss Expectancy (SLE), Exposure Factor (EF) and Asset Value (AV) are related by the formula: SLE = EF * AV Introducing this conceptual breakdown of Single Loss Expectancy into Exposure Factor and Asset Value allows us to adjust the two terms independently and is related to risk management and risk assessment. Asset Value may vary with market changes, inflation while Exposure Factor can be reduced by enabling preventive measures. Annualized loss expectancy: The product of the single loss expectancy (SLE) and the annual rate of occurrence (ARO) give annualized loss expectancy (ALE). It is mathematically expressed as: ALE = SLE * ARO The important feature of Annualized Loss Expectancy is that it can be used directly in a cost- benefit analysis.

Question

(use R language)Scatter plot(a). Run the R code example, and look at the help file for plot() function. Try different values for arguments:type, pch, lty, lwd, col(b). Use par(mfrow=c(3,2)) and output 6 plots with different argument settings.

Answer 1

Question

Chapter 7, Problem 6E

Program Plan Intro

Single loss expectancy:

The expected monetary loss every time a risk occurs is called the Single Loss Expectancy.

The Single Loss Expectancy (SLE), Exposure Factor (EF) and Asset Value (AV) are related by the formula:

SLE = EF * AV

Introducing this conceptual breakdown of Single Loss Expectancy into Exposure Factor and Asset Value allows us to adjust the two terms independently and is related to risk management and risk assessment.

Asset Value may vary with market changes, inflation while Exposure Factor can be reduced by enabling preventive measures.

Annualized loss expectancy:

The product of the single loss expectancy (SLE) and the annual rate of occurrence (ARO) give annualized loss expectancy (ALE).

It is mathematically expressed as:

ALE = SLE * ARO

The important feature of Annualized Loss Expectancy is that it can be used directly in a cost- benefit analysis.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

(use R language)Scatter plot(a). Run the R code example, and look at the help file for plot() function. Try different values for arguments:type, pch, lty, lwd, col(b). Use par(mfrow=c(3,2)) and output 6 plots with different argument settings.

1. Draw flow charts for each of the following;a) A system that reads three numbers and prints the value of the largest number.b) A system reads an employee name (NAME), overtime hours worked (OVERTIME), hours absent(ABSENT) and determines the bonus payment (PAYMENT).

Scenario You work for a small company that exports artisan chocolate. Although you measure your products in kilograms, you often get orders in both pounds and ounces. You have decided that rather than have to look up conversions all the time, you could use Python code to take inputs to make conversions between the different units of measurement. You will write three blocks of code. The first will convert kilograms to pounds and ounces. The second will convert pounds to kilograms and ounces. The third will convert ounces to kilograms and pounds. The conversions are as follows: 1 kilogram = 35.274 ounces 1 kilogram = 2.20462 pounds 1 pound = 0.453592 kilograms 1 pound = 16 ounces 1 ounce = 0.0283 kilograms 1 ounce = 0.0625 pounds For the purposes of this activity the template for a function has been provided. You have not yet covered functions in the course, but they are a way of reusing code. Like a Python script, a function can have zero or more parameters. In the code window you…