For a Certain Random Experiment, Let's Consider Four Different Outcomes

question 10

Multiple Choice

For a certain random experiment, let's consider four different outcomes, which we'll call A, B, C, and D. It has been determined that the probabilities of these outcomes are as follows:

What is the probability of outcome C?

• A) 0.75
• B) 0.50
• C) 0.25
• D) 0
• E) There is a mistake in the table, because a probability cannot be 0.

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Definitions:

Household Income

The combined gross income of all members of a household.

Gini Ratio

A statistical measure used to represent the income or wealth distribution of a nation's residents, indicating economic inequality.

Highest Quintile

The top 20 percent segment of a population sorted by income, wealth, or another metric.

Total Income

The accumulation of all sources of revenue, including wages, salaries, interest, dividends, and other earnings.