BIOLOGY IN HUMAN WELFARE
HUMAN HEALTH AND DISEASE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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risk assessment
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risk analysis
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risk communication
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risk management
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Detailed explanation-1: -Standard deviation. Standard deviation is a statistical tool used to measure and manage risk over a set period and inform decision-making as part of a risk management strategy. When applied in a business environment, standard deviation can be used to monitor risk over a certain time frame.
Detailed explanation-2: -Risk avoidance is an approach that eliminates any exposure to risk that poses a potential loss. Risk reduction deals with mitigating potential losses by reducing the likelihood and severity of a possible loss.
Detailed explanation-3: -Risk management involves identifying and analyzing risk in an investment and deciding whether or not to accept that risk given the expected returns for the investment. Some common measurements of risk include standard deviation, Sharpe ratio, beta, value at risk (VaR), conditional value at risk (CVaR), and R-squared.