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Is the Following an Example of Theoretical Probability or Empirical

question 2

Multiple Choice

Is the following an example of theoretical probability or empirical probability? Joyce and Joel roll two dice 50 times and record their results in the accompanying chart. They calculate the number of times 7 was rolled. This is an example of what type of probability?

Definitions:

Profit Margin

A financial metric that measures the amount of net income earned with each dollar of sales by calculating the percentage of profit generated from revenue.

Return On Assets

A ratio that measures a company's net income relative to its total assets. It indicates how efficiently a company is using its assets to generate profits.

Net Income

The company's overall earnings, calculated by taking away all taxes, costs, and expenses from its total revenue.

Competitive Advantage

A factor that allows a company to produce goods or services better or more cheaply than its competitors, leading to a superior market position.