A Probability Distribution Is a Listing of the Expected Outcomes

question 40

Short Answer

A probability distribution is a listing of the expected outcomes of an experiment and the probability of each outcome occurring. The sum of the probabilities is ______.

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Definitions:

Thanksgiving

Primarily a holiday celebrated in the United States, symbolizing gratitude and harvest, but not a standard economic term.

Payoff Matrix

A table that describes the possible outcomes or payoffs of different strategies in a strategic setting.

Christmas Gifts

Items given to friends, family, and others during the Christmas holiday season as a form of celebration and to express affection.

Publicly Announce

To make a statement or declaration about something to the general public, often through the media.