Understanding Frequency and Severity Rates
If anyone knows why frequency and severity rates are only calculated in millions per hour, and not in billions or other units, please share your insights.
Seeking Formula for Calculating the Safety Factor
If anyone knows the formula for calculating the Safety Factor, please share it with me. I am facing a lot of problems due to this. I have a general idea about the Safety Factor, such as the SF of Hoist and Lift is 12, for Running Rigger and Slings is 8, and for other purposes is 6. However, the formula for calculating the Safety Factor is still unknown to me.
If anyone knows why frequency and severity rates are only calculated in millions per hour, and not in billions or other units, please share your insights.
Seeking Formula for Calculating the Safety Factor
If anyone knows the formula for calculating the Safety Factor, please share it with me. I am facing a lot of problems due to this. I have a general idea about the Safety Factor, such as the SF of Hoist and Lift is 12, for Running Rigger and Slings is 8, and for other purposes is 6. However, the formula for calculating the Safety Factor is still unknown to me.