Dear all users,
I just wanted to make sure about the Average Annual Loss (AAL) calculation from the following equation.
Does the average_loss equation above calculate the AAL for a single realization?
I just think if I have more than one realization (num_rlzs) (e.g. 10), then I got the effective_time_investigation = investigation_time x num_ses x num_rlzs.
So, the average_loss would be
average_loss = sum(event_losses) / (hazard_investigation_time x ses_per_logic_tree_path x number_of_logic_tree_samples) x risk_investigation_time
Am I correct?
I hope anyone can give some information about this. Thanks