Which of the Following Is an Important Aspect of Probability

question 98

Multiple Choice

Which of the following is an important aspect of probability?

• A) The sum of probabilities of all possible outcomes of an event equals 1.0.
• B) All possible outcomes have the exact same probability of occurring.
• C) Each outcome has a 50% chance of occurring.
• D) Combined probabilities of events that occur at the same time is equal to 1.0.

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Definitions:

Framing Error

The tendency to highlight certain aspects of a situation depending on whether they are positive or negative to solve a problem while ignoring other aspects.

Confirmation Bias

The tendency to seek out information that fuels our preexisting views and to discount information that conflicts with our worldview.

Randomness Error

Variability in data or outcomes that cannot be attributed to any specific cause, often seen as noise in experimental or statistical analyses.

Anchoring And Adjustment

A cognitive bias where an individual depends too heavily on an initial piece of information (anchor) when making decisions and makes insufficient adjustments based on subsequent information.