Which of the Following Represents a Subjective Probability

question 79

Multiple Choice

Which of the following represents a subjective probability?

• A)The probability of rolling a 2 on a single die is 1 in 6.
• B)Based on a conducted experiment,the probability of tossing a head on an unfair coin is 0.6.
• C)A skier believes she has a 10% chance of winning a gold medal.
• D)Based on past observation,a manager believes there is a 3-in-5 chance of retaining an employee for at least one year.

Appreciate the benefits and challenges of teamwork in organizational settings.

Understand the concept of social loafing and measures to mitigate it within teams.

Become familiar with the structure and purpose of various specialized teams and groups, such as task forces and quality circles.

Explore strategies for managing and leading teams effectively, including virtual teams and self-managing work teams.

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Definitions:

Risky Asset

An asset that carries a significant degree of risk of losing value, but also offers the potential for higher returns as compared to safer investments.

Rate of Return

The increase or decrease in the value of an investment during a set timeframe, represented as a percentage of the investment's starting price.

Indifference Curves

Graphical representations used in microeconomics to illustrate different combinations of two goods that provide the same level of utility or satisfaction to a consumer.

Standard Deviation

A statistical measure of the dispersion or variability of a set of numbers, indicating how spread out the numbers are from the mean.