“I estimate the expected x-risk basis points reduced for the prospective marginal grantmaker to be 0.12 (with enormous error bars and caveats).”
I think it would be more understandable to present this as 1 out of X. Also, is this relative or absolute risk reduction?
A basis point is 0.01% absolute risk, so 0.12 basis points corresponds to 0.0012% change in absolute risk, or 1 in (1 / (0.0012/100)) = 1 in 83,000 change in absolute risk.
“I estimate the expected x-risk basis points reduced for the prospective marginal grantmaker to be 0.12 (with enormous error bars and caveats).”
I think it would be more understandable to present this as 1 out of X. Also, is this relative or absolute risk reduction?
A basis point is 0.01% absolute risk, so 0.12 basis points corresponds to 0.0012% change in absolute risk, or 1 in (1 / (0.0012/100)) = 1 in 83,000 change in absolute risk.