What is the name for the scientific process used to estimate the potential harm of a particular hazard using statistical methods?
A) Probability
B) Risk assessment
C) Lifecycle cost-pricing
D) Mitigation
E) Prevention

Question

Quizplus · Accepted Answer

Risk assessment is the scientific process used to estimate the potential harm of a particular hazard using statistical methods. Probability refers to the likelihood of an event occurring, but does not necessarily involve the estimation of potential harm. Lifecycle cost-pricing refers to the calculation of the total cost of a product or service over its entire lifespan. Mitigation refers to taking action to reduce the harmful effects of a hazard, but does not involve the estimation of potential harm. Prevention refers to taking action to prevent the occurrence of a hazard, but does not involve the estimation of potential harm.

What Is the Name for the Scientific Process Used to Estimate