In risk assessment we multiply the severity of consequence by the likelihood of occurrence, and if the result is too high, we say the expected consequence is severe, or the danger of occurrence is high. We can draw a risk plot showing all these cases, with a diagonal red line indicating the danger zone above and to the right of the line.
So I'd say D, "high likelihood of mildly bad consequence or low likelihood of very nasty consequence", plus some intermediate cases where the consequence was mildly nasty and the likelihood was middling high.
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timeasmymeasure
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So I'd say D, "high likelihood of mildly bad consequence or low likelihood of very nasty consequence", plus some intermediate cases where the consequence was mildly nasty and the likelihood was middling high.