Gamma Co Has Discovered That One of Its Products Is

question 40

Multiple Choice

Gamma Co has discovered that one of its products is potentially dangerous.That danger,however,is not great.There is only a small chance that someone will be hurt,and even if someone is hurt,the injury will not be life threatening.Gamma Co therefore has decided to do nothing about the danger.It has employed a form of risk management known as

• A)risk ignorance.
• B)risk aversion.
• C)risk displacement.
• D)risk harmonization.
• E)risk acceptance.

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Definitions:

Standard Error

The standard deviation of the sampling distribution of a statistic, commonly used to measure the accuracy of a sample mean.

Population Standard Deviation

A measure of the dispersion of a set of values in a population, reflecting how much the values differ from the mean of the population.

Sample Size

The number of observations or data points collected from a population for use in a statistical analysis.