Probability Is Defined as the Numerical Measure of the Likelihood

question 33

True/False

Probability is defined as the numerical measure of the likelihood that an event will occur and is always between 0 and 1.

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Definitions:

Sampling Error

The discrepancy between the estimated population parameter and the actual population parameter due to the sample not being a perfect representation of the population.

Probability Distribution

A mathematical representation that outlines all possible outcomes and their probabilities for a random variable within a specified scope.

Sample

A subset of individuals, items, or events from a larger population used to draw conclusions about that population.

Population Mean

The average of all the values in a population. It is a parameter that describes the central tendency of the entire population.