After Observing the Defects Within Individual Candies in Many Bags

question 14

Multiple Choice

After observing the defects within individual candies in many bags of M&Ms, it has been determined that 11% of all candies are defective, that the probability of observing an M&M with a missing letter is 22%, and that the probability of observing a cracked M&M, given that you already know it is defective, is 70%. You can calculate the probability that you randomly select an M&M that is cracked because:

• A)the events are discrete.
• B)the events are independent.
• C)the outcomes are disjoint.
• D)None of the answer options is correct.

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Definitions:

Maximax Criterion

A decision-making rule used in scenarios of uncertainty, selecting the option with the maximum possible payoff regardless of the risks involved.

Uncertainty

A situation where the outcomes or conditions of an event, effect, or decision are not known or predictable.

Conditional Probability

This is the probability of an event occurring given that another event has already occurred.

Expected Value

A statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen, often used in decision-making and risk assessment.