16 Questions
What is the primary purpose of a probability value?
To predict the likelihood of an event
Which of the following is a characteristic of a simple event?
Probability can be calculated straightforwardly
What is the formula for calculating the probability of a simple event?
P(event) = number of ways in which an event can happen / total number of possible outcomes
Which of the following is a representation of a compound event?
Two-way table
What is the purpose of a two-way table in probability?
To compare two different variables and determine probability values
What is the primary advantage of using percentage format in probability?
It is easier to interpret and compare values
What is the term for probability values determined by observing past trends?
Historical trends
What is the limitation of using probability values in predictions?
They do not guarantee the outcome of an event
What is the primary difference between a simple event and a compound event?
The number of trials or occurrences
What is the primary purpose of using tree diagrams in compound events?
To visualize all possible outcomes
What is the primary advantage of using fraction format in probability?
Original form of the probability value
What is the primary limitation of using probability values in predictions?
They do not guarantee outcomes
What is the primary purpose of using two-way tables in probability?
To compare and analyze data
What is the primary difference between decimal format and percentage format in probability?
The way of expressing the probability value
What is the primary advantage of using historical trends in probability?
More accurate predictions
What is the primary purpose of using probability values in advertisements?
To influence consumer decisions
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