A short discourse on random and statistical risk.
by Bruce W. Marcus
Author of Professional Services Marketing 3.0
Risks are different in context and magnitude. A good mathematician can often statistically quantify the boundaries of risk, such as telling you that one in every hundred people will slip in the bathtub and break a bone, but that depersonalizes it and tells you nothing to help you avoid it. And that’s only half way to understanding it.
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When a random risk is combined with a decision not to take an action in a situation (or even a potential situation), there is fuel for disaster.
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