The Sum of the Probabilities of All Possible Outcomes of a Trial

question 44

Multiple Choice

The sum of the probabilities of all possible outcomes of a trial must be 1.What rule or law is this?

• A)The Law of Large Numbers
• B)The Probability Assignment Rule
• C)The Total Probability Rule
• D)The Rule of Law
• E)The Law of Averages

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Definitions:

EBIT

Stands for Earnings Before Interest and Taxes; it's a financial metric that calculates a company's profitability by excluding interest and income tax expenses.

Debt

Money that is owed or due to be paid to someone else, often as a result of borrowing funds or purchasing goods and services on credit.

Fixed Costs

These are expenses that do not change with the level of goods or services produced by the business within a certain range of activity or over a certain period.

Break-Even

The point at which total costs and total revenues are equal, leading to no net loss or gain.