The reports outlined the attached excel specification are designed to answer the question: ‘How much sampling error is there in my annual loss estimates?’ for any sample based loss model output.
ORD_convergence_tables_v5.xlsx
The two new reports proposed are;
Convergence in Annual Loss Table (C ALT)
Convergence in Exceedance Probability Table (C EPT)
Only relevant for sample-based output
Can be produced for any summary level and financial perspective
Used to guide the choice of number of samples for similar runs
The tables contain the following information:
confidence intervals and standard errors for the annual loss estimates
recalculated estimates using increasing subsets of the total number of samples to help visualise convergence of the estimates
attribution of overall standard error to primary uncertainty (events/hazard), and secondary uncertainty /vulnerability i.e. sampling variability given the event. This helps to understand the relative importance of running additional samples for robustness of a given metric.
The reports outlined the attached excel specification are designed to answer the question: ‘How much sampling error is there in my annual loss estimates?’ for any sample based loss model output. ORD_convergence_tables_v5.xlsx
The two new reports proposed are;
The tables contain the following information:
References OasisLMF project documentation: