This preview shows pages 1–2. Sign up to view the full content.
Agenda for Class January 25, 2011
1) GIS
2)
Office hours on Thursday’s 45pm, sign in, class introductions
3) Discuss book/author
a. Vaughan
4) Ice Breaker – risky behavior
5) Chapter 1
a.
What is Risk – CLASS EXERCISE
b. Common threads
i.
Potential for loss
ii.
Uncertainty of event
iii.
Dispersion of actual to expected loss
iv.
Probability that the outcome is different
v.
Opportunity there is a chance of loss
6) Book definition of risk
a. At least two possible outcomes
b. At least one outcome is undesirable
c.
Risk is – state of the real world
d. Risk can exist whether perceived or not
e. Risk can be imagined whether a possibility of loss or not
7) Degree of Risk
a. More risk/less risk – likely to occur, more riskier
b. Varies with probability of deviation – higher probability, higher result
in occurrence, higher risk
i.
From what is expected in case of aggregate data historical
data uses as “predicator” of
outcome different
ii.
From what is hoped for (no loss) in case of individual
This preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
This is the end of the preview. Sign up
to
access the rest of the document.
This note was uploaded on 04/01/2012 for the course 06F 102 taught by Professor Donnal.pearcy during the Spring '11 term at University of Iowa.
 Spring '11
 DonnaL.Pearcy

Click to edit the document details