What is Risk Calc used for?
Risk Calc supports probability bounds analysis, standard fuzzy arithmetic, and classical interval analysis. Its applications are like those of Monte Carlo packages such as @Risk or Crystal Ball, but Risk Calc does not require you to specify precise details of statistical distributions and their dependency relationships when empirical data are lacking. Risk Calc makes new methods available for conducting distribution-free or nonparametric risk analyses. You decide what information or assumptions should be used, and the software calculates bounding estimates of risks. Often these bounds can be shown to be the best possible. Using Risk Calc, you can do quality assurance reviews for probabilistic risk and safety assessments. Without perfect knowledge, we can never be sure about the exact values of numbers used as input. Virtually all real-world calculations harbor some uncertainty. RAMAS Risk Calc 4.0 uses both traditional methods such as probability theory and interval analysis and the ne
