According to the Relative Frequency Concept of Probability,the Probability of an Event

question 18

Multiple Choice

According to the relative frequency concept of probability,the probability of an event is

• A)1 divided by the total number of outcomes for the experiment
• B)the number of times the given event is observed divided by the total number of repetitions of the experiment
• C)the number of outcomes favorable to the given event divided by the sample space
• D)the sample space divided by the number of outcomes favorable to the given event

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Definitions:

Credit Cards

Payment cards issued by financial institutions allowing cardholders to borrow funds for purchases, which must be repaid along with any accrued interest.

Money Supply

The aggregate sum of liquid assets within an economy at a given time, including cash, bank deposits, and assets that can be quickly turned into cash.

Demand for Money

The desire or need by individuals and businesses to hold liquid assets, primarily currency and demand deposits, for transactional, precautionary, and speculative purposes.

Nominal GDP

Nominal Gross Domestic Product refers to the market value of all final goods and services produced within a country in a given period, measured in current market prices.