Software Engineering (10th Edition)
Software Engineering (10th Edition)
10th Edition
ISBN: 9780133943030
Author: Ian Sommerville
Publisher: PEARSON
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Chapter 12, Problem 12.2E
Program Plan Intro

Safety Critical System:

Safety-Critical System is the system where the system operations performed is always safe. The system does not provide any damage to the people or the other environment which is regardless to the specification it carries. Example of safety-critical system comprises of control process in chemical and pharmaceutical industries, control and monitoring system in aircraft.

There are two classes of safety-critical software. They are:

  • Primary safety-critical software
  • Secondary safety-critical software

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In terms of probability and consequence, it is unclear why intervals rather than precise numbers are preferred for risk assessments.
Using your knowledge of knock-out options and their pricing via Monte Carlo simulation, demonstrate the effect on option prices when we vary the frequency at which barrier crossing is checked. This question is intentionally ambiguous to assess your maturity in approaching problems that are likely to arise in the real world. You will choose your own option parameters, perform the simulation and report the results as you see fit in order to demonstrate the effect. Type your code here, followed by a commentary
It is not obvious why intervals in risk analyses are preferred over exact numbers when referring to both probability and consequence.
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