Using the central limit theorem concerning the distribution of means allows one to justify the assumption of the normal distribution. Analytical people tend not to worry too much about the nature of ...

The Central Limit Theorem is a statistical concept applied to large data distributions. It says that as you randomly sample data from a distribution, the means and standard deviations of the samples ...

In this paper, the importance of the empirical bootstrap (EB) in assessing minimal operational risk capital is discussed, and an alternative way of estimating minimal operational risk capital using a ...