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Dear @David Harper CFA FRM

Knowing default is characterized by a bernoulli distribution, can you please advise if an analytical solution exists to deriving PDs from sigma PD.

Let me be more precise..if sigma PD = 7%. What is PD? Would appreciate if you share the workout!

Thanks.

Knowing default is characterized by a bernoulli distribution, can you please advise if an analytical solution exists to deriving PDs from sigma PD.

Let me be more precise..if sigma PD = 7%. What is PD? Would appreciate if you share the workout!

Thanks.

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