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Statistical risk is a quantification of a situation's risk using statistical methods.These methods can be used to estimate a probability distribution for the outcome of a specific variable, or at least one or more key parameters of that distribution, and from that estimated distribution a risk function can be used to obtain a single non-negative number representing a particular conception of ...
The relative risk (RR) or risk ratio is the ratio of the probability of an outcome in an exposed group to the probability of an outcome in an unexposed group. Together with risk difference and odds ratio , relative risk measures the association between the exposure and the outcome.
For instance, a surgical procedure may have high early risk, but excellent long term outcomes. [citation needed] If the hazard ratio between groups remain constant, this is not a problem for interpretation. However, interpretation of hazard ratios become impossible when selection bias exists between groups. For instance, a particularly risky ...
The risk difference (RD), excess risk, or attributable risk [1] is the difference between the risk of an outcome in the exposed group and the unexposed group. It is computed as I e − I u {\displaystyle I_{e}-I_{u}} , where I e {\displaystyle I_{e}} is the incidence in the exposed group, and I u {\displaystyle I_{u}} is the incidence in the ...
A risk score is a metric used in statistics, biostatistics, ... that will provide both the risk estimation and the formula to calculate the score. Item 3 requires ...
The theoretical return period between occurrences is the inverse of the average frequency of occurrence. For example, a 10-year flood has a 1/10 = 0.1 or 10% chance of being exceeded in any one year and a 50-year flood has a 0.02 or 2% chance of being exceeded in any one year.
An odds ratio (OR) is a statistic that quantifies the strength of the association between two events, A and B. The odds ratio is defined as the ratio of the odds of event A taking place in the presence of B, and the odds of A in the absence of B. Due to symmetry, odds ratio reciprocally calculates the ratio of the odds of B occurring in the presence of A, and the odds of B in the absence of A.
The group exposed to treatment (left) has the risk of an adverse outcome (black) reduced by 50% (RRR = 0.5) compared to the unexposed group (right). In epidemiology , the relative risk reduction (RRR) or efficacy is the relative decrease in the risk of an adverse event in the exposed group compared to an unexposed group.