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Risk vs. Uncertainty
Inside this lesson
- Distinguish risk (measurable probability) from uncertainty (no reliable probability).
- Compute expected loss as probability times impact.
- Summarise an uncertainty range by its band (high minus low) and midpoint.
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Educational content only. This course explains business and project risk-analysis concepts and the math behind them; it is not financial, accounting, investment, or professional certification advice, makes no recommendations, and predicts no cost, schedule, cash, or business outcomes. All figures are illustrative synthetic teaching examples. Consult a qualified professional before making financial or business decisions.