What Is the Probability of Winning Four Games in a Row

question 4

Multiple Choice

What is the probability of winning four games in a row, if the probability of winning each game individually is 1/2?

• A) 1/4
• B) 1/8
• C) 1/2
• D) 3/16
• E) 1/16

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Definitions:

General Motors

An American multinational corporation that designs, manufactures, markets, and distributes vehicles and vehicle parts.

Total Profit

The total income a business obtains after accounting for all expenses, taxes, and costs associated with its operations.

Herfindahl-Hirschman Index

A concentration measure used to calculate the level of competition within an industry by summing the squares of the market shares of all firms within the industry.

Concentration Ratio

A measure used in economics to assess the degree of market concentration, often indicating the combined market share of the top firms in an industry.