In a Tree Diagram That Illustrates the Joint Probabilities for a Probability

question 92

Short Answer

In a tree diagram that illustrates the joint probabilities for a probability problem, the sum of all the joint probabilities must equal _______________.

---

Definitions:

Deferred Benefit Plan

A type of retirement plan that allows participants to postpone receiving retirement benefits until a specific future date, often to optimize tax benefits.

Elective Surgical Procedure

A surgery that is scheduled in advance because it does not involve a medical emergency.

Equilibrium Price

The cost at which the amount of a product or service that buyers want matches the amount that sellers provide, resulting in a balanced market situation.

Immediate Price

The current price of a good or service at which it can be bought or sold instantly.