If We Have Four Outcomes and Use a Simple Average

question 30

Multiple Choice

If we have four outcomes and use a simple average to calculate the mean, we are assuming each outcome has what chance of occurring?

• A)four percent
• B)100 percent
• C)25 percent
• D)not enough information given

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Definitions:

Liability Increase

A financial situation where the obligations or debts of a person or company grow.

Personal-Use Asset

An asset primarily used for the personal enjoyment or needs of an individual or family, as opposed to business or investment use.

FMV

Fair Market Value (FMV) is the price that property would sell for on the open market, between a willing buyer and seller, with neither being under any pressure to buy or sell.

Date of Contribution

The specific day on which an asset or financial investment was contributed or transferred to a particular entity or project.