Black swans illustrate one of the many ways in which people tend to misperceive or misinterpret statistics

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Black swans

illustrate one of the many ways in which people tend to misperceive or misinterpret statistics and probabilities. Explain what a black swan is

(

the financial type

)

and give several examples of prominent such events in financial history. What is the significance of a black swan and can they be prevented by either society, the industry, or government?

Related Book For answer-question

Auditing A Business Risk Approach

ISBN: 978-0538476232

8th edition

Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg

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Posted Date: Apr 30, 2024 03:22 AM

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Black swans illustrate one of the many ways in which people tend to misperceive or misinterpret statistics

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Expert Answer:

A Black Swan event refers to an extremely rare and unpredictable occurrence in finance typically characterized by three main features Rarity It has lo... View the full answer

Auditing A Business Risk Approach

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