State Whether There Is One Way for the Given Observation

question 62

Multiple Choice

state whether there is one way for the given observation to occur (outcome) or more than one way for the given observation to occur (in which case it is an event) .
-Rolling a 4 with a fair die

• A) Outcome
• B) Event

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Definitions:

360-Day Year

A financial convention that simplifies the interest calculation by assuming a year has 360 days.

Maturity Date

The specified date on which the final payment of a loan or financial instrument must be paid, at which point the principal (and all remaining interest) is due to be paid.

Leap Years

Years with 366 days, occurring every four years, to keep the calendar year synchronized with the astronomical year.

Surety Financing Company

A surety financing company provides financial guarantees for obligations made by the principal, ensuring contract completion in the event of default.