Any thoughts on the equation for increase risk over time. In business context the longer it takes to undertake something where a level of risk exists, the longer it is being undertaken the greater probability of risk.
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Any thoughts on the equation for increase risk over time. In business context the longer it takes to undertake something where a level of risk exists, the longer it is being undertaken the greater probability of risk.
I suggest you use the Weibull distribution. This distribution can be used to model the probability of failure of "something" as a function of that "something's" life.
