An Approach of Assigning Probabilities That Assumes That All Outcomes

question 49

Short Answer

An approach of assigning probabilities that assumes that all outcomes of the experiment are equally likely is referred to as the: $\begin{array}{|l|l|}\hline\text { A. } &\text {subjective approach. } \\\hline \text { B. } & \text {objective approach. } \\\hline \text { C. } &\text { classical approach.} \\\hline \text { D. } &\text { relative frequency approach.} \\\hline\end{array}$

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Definitions:

Benefit The Company

Actions or strategies that enhance the performance, profitability, or competitive advantage of a company.

Cost of Equipment

The original value of equipment, including purchase price and any other expenses required to get the equipment ready for its intended use.

Expensed

Expensed is the recognition of a cost as an expense on the income statement in the period in which it is incurred, rather than capitalizing it as part of an asset.

Units-of-production Method

a depreciation technique that allocates the cost of an asset over its useful life based on the number of units it produces.