Risk

An alternative name for probability. The risk of an event occurring is the probability of the event occurring and is mainly used when the event is related to a health issue or is an undesirable event.

Example

The following data were collected on a random sample of students enrolled in a Statistics course at the University of Auckland.


Attendance
Regular Not regular Total
Course
result
Pass
Fail
83
17
19
27
102
44
  Total 100 46 146

Based on this sample of students, the risk of failing = 44/146 = 0.30

The risk of failing for students with regular attendance = 17/100 = 0.17

Curriculum achievement objectives references
Probability: Levels 7, (8)