The Greatest Project Risk Occurs When

question 22

Multiple Choice

The greatest project risk occurs when:

• A)The probability of the event is high and the consequences of the event are high.
• B)The probability of the event is high and the consequences of the event are low.
• C)The probability of the event is low and the consequences of the event are high.
• D)The probability of the event is low and the consequences of the event are low.

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Definitions:

Population

The complete set of items or individuals that are the objects of a statistical study.

Simple Random Sample

A subset of a larger population in which every member has an equal chance of being selected, ensuring the sample’s representativeness.

Annual Salary

The total amount of money that an individual earns in one year from their job before taxes and other deductions.

Sampling Distribution

The distribution of a statistic (such as the mean or variance) derived from a large number of samples of a specific size from a particular population.