Provide an Appropriate Response

question 120

Multiple Choice

Provide an appropriate response.
-Classify the statement as an example of classical probability, empirical probability, or subjective probability. The probability that it will rain tomorrow is 63%.

• A)subjective probability
• B)classical probability
• C)empirical probability

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Definitions:

Repudiation

An indication by one party to the other that there will be a failure to honour the contract (the expression of which can be expressed or implied).

Condition Breached

When a specific condition or term in a contract is violated or not fulfilled as agreed.

Damages

Financial compensation awarded by a court to a party who has suffered loss or injury due to the actions or negligence of another party.

Obligations

Duties or responsibilities imposed by law, contract, or moral imperatives, often requiring action or forbearance.