Using probability to assess risk (AQA GCSE Statistics): Flashcards
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10 cards from this deck
What is the formula for calculating risk?
What is the formula for calculating risk?
Risk = Number of occurrences / Total trials
Calculate risk if 5 accidents occurred in 100 trials.
Calculate risk if 5 accidents occurred in 100 trials.
Risk = 5/100 = 0.05 or 5%
What does a relative risk > 1 indicate?
What does a relative risk > 1 indicate?
First group has a higher risk than the second group.
Find relative risk if group A risk is 0.2 and B is 0.1.
Find relative risk if group A risk is 0.2 and B is 0.1.
Relative risk = 0.2 / 0.1 = 2.0
How to express risk for easier comparison?
How to express risk for easier comparison?
Always convert risk to decimals.
What is absolute risk?
What is absolute risk?
Probability of an event for an individual in a group.
Calculate risk of injury if 10 injuries in 200 players.
Calculate risk of injury if 10 injuries in 200 players.
Risk = 10/200 = 0.05 or 5%
Interpret relative risk of 3.5.
Interpret relative risk of 3.5.
First group is 3.5 times more likely to experience the event.
What does a relative risk < 1 mean?
What does a relative risk < 1 mean?
First group has a lower risk than the second group.
How does risk assessment aid decision-making?
How does risk assessment aid decision-making?
It informs resource allocation and policy implementation.