An Experiment Consists of Four Outcomes with P(E₁) = 0

question 89

Multiple Choice

An experiment consists of four outcomes with P(E₁) = 0.2, P(E₂) = 0.25, and P(E₃) = 0.05. The probability of outcome E₄ is

• A) 0.500.
• B) 0.0025.
• C) 0.100.
• D) 0.

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Definitions:

Condition Subsequent

A condition in a contract that operates to terminate a party’s absolute promise to perform.

Express Condition

A clearly stated, specific requirement within a contract that must be met for the contract to be fulfilled or an obligation to become due.

Contractual Obligation

A duty or commitment that one party is legally required to perform as per the terms of a contract.

Market Price

The current price at which an asset or service can be bought or sold in a given market.