Question

discuss the difference between risks and rates( in own words) and when ea h should be used.

Answer 1

A risk is the probability of an event occurring which is expressed in percentages. For example there is a chance of earthquake in the coming days. This is a risk which might or might not occur. Rate is the frequency of occurrence of an event or the number of times an event has occurred or is expected to occur. For example there were deaths due to dengue at the rate of 10 per village this year. A risk is used when we are estimating something and the probability at which it might occur and a rate is used when we want to tell the frequency of occurrence of an event.