18 Questions
What is the probability of rolling a 1 when a die is rolled?
1/6
What is the formula to calculate the probability of an event occurring?
Number of favorable outcomes / Total number of outcomes
What is the probability of rolling an even number when a die is rolled?
1/2
Which method of assigning probabilities involves conducting experiments and calculating the proportion of times an event occurs?
Frequentist
What is a potential difficulty with using subjective probabilities?
They are subjective and can vary from person to person
What is an example of using subjective probabilities in real-life?
Assigning odds to a horse race
What is an event in the context of probability?
A set of outcomes
What is the sample space in the context of an experiment?
The set of all possible outcomes
Which of the following is an example of an event?
The set of all outcomes where the shoe size is less than 9
What is the relationship between an event and an outcome?
An event is a set of outcomes
Can an event contain only one outcome?
Yes, it is possible but not always the case
What is true about the outcomes of an experiment?
Only one outcome can occur
What is the range of values for measuring probability?
0 ≤ prob ≤ 1
What does a probability of 0 represent?
An event that is impossible to happen
What are two events that cannot occur simultaneously called?
Mutually exclusive events
What term is used to describe events where the occurrence of one does not affect the probability of the second?
Independent events
What approach to measuring probability assumes all possible outcomes are equally likely?
Classical approach
How many outcomes are possible in the classical approach when tossing a fair coin?
2 possible outcomes
This quiz covers the basics of probability, including experiments and outcomes, and how it helps in decision making in the business world.
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