What Numerical Measure Is Typically Used to Communicate Risk, Regardless

question 5

Multiple Choice

What numerical measure is typically used to communicate risk, regardless of how it is assessed?

• A)cost
• B)frequency
• C)severity
• D)probability

---

Definitions:

Differentiation Value

The unique qualities or characteristics of a product or service that set it apart from competitors in the eyes of customers.

Value-based Pricing

Pricing strategy that sets product prices based on the perceived value to the customer rather than based on the cost of the product or historical prices.

Injection Mold

A manufacturing process used to create parts by injecting molten material into a mold.

Operating Cost

Refers to the total expense associated with running a business's core operations on a day-to-day basis, excluding financing and investment costs.