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English
New Course
Concept
Tail Behavior
Tail behavior
refers to the
properties and characteristics of the extreme ends
or 'tails' of a probability distribution, which are crucial for understanding the
likelihood of rare events
. It is particularly important in
fields like finance
and insurance, where
assessing the risk of extreme outcomes
can significantly impact decision-making and
risk management strategies
.
Relevant Fields:
Probability and Statistics 70%
Computational Mathematics 30%
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