What Is the Difference Between an Event and an Outcome

question 25

Multiple Choice

What is the difference between an event and an outcome?

• A)The event will definitely occur, whereas the outcome may or may not.
• B)Outcomes never occur, whereas events do.
• C)In a given situation, there are many possible events, and the outcome is the one for which we want to know the probability.
• D)In a given situation, there are many possible outcomes, and an event is the outcome or set of outcomes for which we want to know the probability.
• E)There is no difference.The two terms are used interchangeably.

---

Definitions:

Stagnating Wages

The phenomenon where wages remain constant over time without significant increases, often leading to decreased purchasing power due to inflation.

Steady Interest Rates

A condition where interest rates remain the same over a period of time, leading to predictable financing costs.

DVDs

Digital Versatile Discs, storage media used for movies, data, and software.

Tolerance for Ambiguity

The degree to which an individual is comfortable with uncertainty, complexity, and situations where clear information or definitive outcomes are not available.