Define objective risk.
Understand the Problem
The question is asking for the definition of the term 'objective risk'. This involves explaining what it means in the context of risk assessment and management, often in relation to insurance, finance, or decision-making processes.
Answer
Objective risk is the relative variation of actual loss from expected loss.
Objective risk is the relative variation of actual loss from expected loss.
Answer for screen readers
Objective risk is the relative variation of actual loss from expected loss.
More Information
Objective risk quantifies the difference between the predicted outcomes and the actual outcomes in a measurable manner. This is in contrast to subjective risk, which is influenced by individual perceptions.
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