Compute and Interpret Probabilities Using the Classical Method
-The Sample $\{ \mathrm { HHH } , \mathrm { HHT } , \mathrm { HTH } , \mathrm { HTT }$

question 100

Multiple Choice

Compute and Interpret Probabilities Using the Classical Method
-The sample space for tossing three fair coins is $\{ \mathrm { HHH } , \mathrm { HHT } , \mathrm { HTH } , \mathrm { HTT }$ , THH, THT, TTH, TTT $\}$ . What is the probability of exactly two heads?

• A) \(\frac { 3 } { 8 }\)
• B) 3
• C) \(\frac { 1 } { 2 }\)
• D) \(\frac { 5 } { 8 }\)

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Definitions:

Tax Revenue

The income that is collected by governments through taxation, which supports public spending and services.

Government

The organization, or system by which a community or nation is governed, responsible for creating and enforcing laws.

Consumer Surplus

The offset between what customers are willing and able to pay for a service or product and what they actually expend.

Consumer Surplus

The distinction between the ideal spending amount of consumers on a good or service and their actual expenditure.