Here Is an Assignment of Probabilities to the Face That

question 20

Multiple Choice

Here is an assignment of probabilities to the face that comes up when rolling a die once:

Which of the following is true?

• A) This isn't a legitimate assignment of probability, because every face of a die must have probability 1/6.
• B) This isn't a legitimate assignment of probability, because it gives probability zero to rolling a 3 or a 5.
• C) This isn't a legitimate assignment of probability, because the probabilities do not add to exactly 1.
• D) This isn't a legitimate assignment of probability, because we must actually roll the die many times to learn the true probabilities.
• E) This is a legitimate assignment of probability.

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Definitions:

Monopolistic Competition

A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power.

Differentiated Products

Goods or services that are distinguished from similar products based on quality, brand, design, or features, leading to non-price competition among firms.

Advertising

A marketing strategy involving the public promotion of products, services, or brands through various media channels to attract consumer interest.

Waste Of Resources

The inefficient, ineffective, or unnecessary use of resources resulting in the loss of potential benefits.