I a Subjective Probability Can Be Assigned to an Event

question 92

Multiple Choice

i. A subjective probability can be assigned to an event by an individual based on the individual's
Knowledge about the event.
ii. The probability that you would assign to the likelihood that the Hamilton Tiger Cats will be in the
Grey Cup this season must be between 0 and 10.
iii. A probability is a number from -1 to +1 inclusive that measures one's belief that an event resulting
From an experiment will occur.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and, (ii) are correct statements but not (iii).
• C) (i) and, (iii) are correct statements but not (ii).
• D) (ii) and, (iii) are correct statements but not (i).
• E) (i), (ii) and (iii) are all false statements.

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Definitions:

Pension Plan

A retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit.

Annual Pension Benefit

The amount of money an individual receives annually from their retirement plan after retiring.

Variable Component

A cost or expense that changes in proportion to changes in a business’s activity level.

Payroll System

A system used by companies to organize, calculate, and process payments to employees for their services.