Which of the Following Probabilities Would Be Best Determined by Using

question 31

Multiple Choice

Which of the following probabilities would be best determined by using the method of frequency?

• A)the odds that someone who rolls two dice will roll a 9
• B)the odds that it will rain tomorrow
• C)the odds that the spinner in a game of Twister will be pointing to yellow when it stops
• D)the odds of winning the lottery
• E)the odds of being dealt a full house in a game of poker

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Definitions:

Interest Rate

The amount of money paid for the use of borrowed funds.

Legal/Regulatory

Pertaining to laws, regulations, and legal standards that govern the operations, actions, and compliance requirements of individuals and organizations.

Generic Competitive Strategies

Frameworks proposed by Michael Porter that describe three potential strategies to achieve a sustainable competitive advantage: cost leadership, differentiation, and focus.

Competitive Advantage

A scenario or element that positions a business in a stronger or more favorable spot relative to its competitors.