What does the statement "Based on our estimates and modeling, we can expect between $600,000 and $1.9M of loss from this scenario over the next year" describe?

The statement indicates a range of expected financial loss, providing a specific monetary estimate that conveys an expectation based on data and modeling. This context aligns with the term "probable," which suggests that the likelihood of experiencing a loss within the specified range is significant based on the analysis conducted.

In the context of risk analysis, "probable" reflects the notion that while there is uncertainty, the estimates indicate a reasonable likelihood of realizing the described loss in the given timeframe. The use of numerical estimates adds a layer of quantitative backing to the assessment, suggesting that these figures are grounded in a structured evaluation of risk and potential impact.

The other options do not encapsulate the nature of the statement accurately. "Possible" implies a more vague likelihood without the solid quantification presented here. "Predicted" could suggest a more definitive future event, which does not fully embrace the inherent uncertainty in finance. "Certain" would imply a guaranteed outcome, which is not feasible in risk estimations as they always carry a degree of uncertainty. Therefore, "probable" is the most fitting description, capturing the essence of the estimates provided.