Probabilities Must Be Assigned to Experimental Outcomes So That the Probabilities

question 135

Multiple Choice

Probabilities must be assigned to experimental outcomes so that the probabilities of all the experimental outcomes must add up to ___.

• A)1
• B)between 0 and 1
• C)between -1 and 1
• D)0

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Definitions:

Lorenz Curve

A graphical representation used in economics to show the distribution of income or wealth within a society, illustrating levels of inequality.

Personal Distribution

The distribution of income and wealth among individuals and households in an economy.

Gini Ratio

An index that quantifies the disparity in income distribution among a population, where 0 signifies complete equality and 1 denotes complete disparity.

Income Distribution

The way in which total income is shared among the population or different groups within a society.