Which Term Best Defines the Following Statement: "The Chance of a Disaster

question 12

Multiple Choice

Which term best defines the following statement: "The chance of a disaster is low and the timing is unpredictable."

• A) Risk
• B) Actual risk
• C) Stochastic
• D) Subjective decisions
• E) Typicality

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Definitions:

Sample Mean

The average of all the data points in a sample, used as an estimate of the population mean.

Sample Standard Deviation

A measure of the dispersion or variability of data points in a sample from the sample mean.

Significance Level

A threshold set by researchers before conducting an experiment to determine at what probability level results will be considered statistically significant, commonly set at 0.05 or 5%.

Type I Error

The incorrect rejection of a true null hypothesis, also known as a "false positive" finding.