When We Make a Probability Tree, We Look at Outcomes

question 23

Essay

When we make a probability tree, we look at outcomes for two different events and draw a diagram from left to right with one event and then the other. Invent a simple example with numbers and clearly show that the order we depict the events in a probability tree does not alter the final probabilities. (Hint: Draw two trees for the same probabilities)

---

Definitions:

Promotional Mix

The combination of marketing communication tools a company uses to fulfill its promotional objectives, including advertising, sales promotion, public relations, personal selling, and direct marketing.

Key Elements

Essential aspects or components that are critical for the success or functionality of a system, process, or strategy.

List

A collection of items or elements that are typically written or printed sequentially.

Promotional Elements

Various components used in marketing strategies to communicate with the target audience, including advertising, sales promotion, public relations, and personal selling.