Final answer:
The explanatory variable is the variable that is manipulated or controlled, while the response variable is the variable that is being affected or measured.
Step-by-step explanation:
When comparing situations involving risk, the explanatory variable is the variable that is manipulated or controlled, while the response variable is the variable that is being affected or measured. The explanatory variable is typically the cause or the independent variable, whereas the response variable is the effect or the dependent variable.
For example, if we are studying the relationship between studying time and test scores, the explanatory variable would be the studying time, as we are manipulating and controlling it. The response variable would be the test scores, as they are being affected and measured by the studying time.
SEO Keywords: explanatory variable, response variable, manipulated variable, dependent variable, independent variable.