According to the provided calculation, what does a frequency of 0.000001 represent?

A frequency of 0.000001, in risk analysis terms, indicates the likelihood of an event happening over a set period, typically expressed as events per year. To interpret this value, it's crucial to understand that the frequency is typically recorded in terms of events per year.

When the frequency is 0.000001, it can be translated into one loss event occurring every 1,000,000 years. This is derived from the fact that the frequency of 1 indicates a certain event happens once per year. Consequently, a frequency of 0.000001 suggests that if you were observing for a million years, you would expect to see, on average, one occurrence of the loss event. Therefore, this metric helps in quantifying very low probability events over extended timeframes, essential for effective risk management and safety calculations.

The other options do not accurately reflect the meaning of the frequency in question, as they suggest different time intervals or probabilities that do not align with the calculation of 0.000001.