In the Classical Approach,probability Is the Proportion of Times an Event

question 29

True/False

In the classical approach,probability is the proportion of times an event is observed to occur in a very larger number of trials.

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Definitions:

Holder

The individual or entity that possesses or controls a particular document, instrument, or security, having certain rights to it.

Drawee

A party upon whom a cheque or draft is drawn, typically a bank, responsible for paying the amount specified to the payee.

Negotiable Instruments

Financial documents promising payment to the holder, such as checks, bills of exchange, and promissory notes.

Referral Selling

A type of sales practice in which the purchaser supplies a seller with a list of friends or acquaintances and receives a benefit when sales are made to those people.