1  Comparison of IFRS 17 and Current Standard

2 Models

Risk adjustments

What does set.seed() do in R?

Fixes the RNG so results are reproducible.

What is a p-value?

P(data this extreme or more | null is true).

Problem 3. A fair coin is flipped 3 times. What’s the probability of exactly 2 heads?

Show answer

There are \(2^3 = 8\) outcomes; exactly 2 heads occurs \(\binom{3}{2}=3\) times, so

\[ P(H = 2) = \frac{3 \choose 2}{2^3}= 3/8 \]