If the Odds Against an Event Are 19 to 1

question 74

Multiple Choice

If the odds against an event are 19 to 1, the probability of its occurrence is

• A) .17
• B) .05
• C) .01
• D) .25

Gain insight into the calculation of expected profits in business bidding processes.

Understand the calculation of expected values for probabilities involving selection, such as card games and dice rolls.

Grasp the computation of standard deviation in various probability distributions.

Apply knowledge of standard deviation to assess the variability in probability models for real-world scenarios.

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Definitions:

Applied Research

Research conducted specifically to solve practical problems and improve the quality of life.

Functionalism

An early school of psychology that was concerned with how humans and animals use mental processes in adapting to their environment.

Charles Darwin

A British naturalist best known for his contributions to the science of evolution, particularly the theory of natural selection.

Structuralism

The first formal school of thought in psychology, aimed at analyzing the basic elements, or structure, of conscious mental experience.