The Standard Used by Statisticians to Determine the Probability of an Event

question 12

Multiple Choice

The standard used by statisticians to determine the probability of an event occurring outside of chance alone is ______

• A)0.05%
• B)99%
• C)95%
• D)5%

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Definitions:

Bankruptcy Petition

A formal request filed by an individual or business to declare bankruptcy, seeking protection from creditors.

Order for Relief

A court order that provides relief from certain types of legal obligations or protections in bankruptcy proceedings.

Chapter 7 Petition

A legal request filed in a bankruptcy court for relief under Chapter 7 of the United States Bankruptcy Code, resulting in liquidation of a debtor's assets.

Trustee

An individual or organization appointed to manage and administer property or assets on behalf of others, often in the context of a trust or bankruptcy.