Which of the Following Events Is the Most Probable

question 32

Multiple Choice

Which of the following events is the most probable?

• A) flipping 6 or more heads in 10 coin flips
• B) flipping 60 or more heads in 100 coin flips
• C) flipping 600 or more heads in 1000 coin flips
• D) All the above are equally probable.

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Definitions:

Interdependence

A situation where entities are dependent on each other, often observed in global economies where countries rely on others for resources, technology, or markets.

Price Takers

Firms or individuals who accept the market price as given and have no influence to alter the price of the good or service they are selling or buying.

Four-firm Concentration Ratio

A measurement that indicates the combined market share of the four largest firms in an industry, used to assess the degree of competition within the market.

Herfindahl Index

A measure of market concentration that is used to determine the amount of competition among firms within an industry.