Which of the following statements is untrue regarding a probability distribution?
A) it will show all possible outcomes and their probabilities
B) it can be used to provide an indication of the risk of undertaking a possible course of action.
C) it will show the average outcome that is expected to occur
D) it will enable an estimate of the most likely outcome to be derived
Correct Answer:
Verified
Q1: Which of the following is NOT a
Q3: The decision rule under the maximin criterion
Q4: The maximum amount that is worth paying
Q5: Which of the following assumptions apply when
Q6: The following represent a tutor's estimate of
Q7: The most likely outcome represents:
A)the expected value.
B)the
Q8: Which of the following is NOT a
Q9: In a decision tree the boxes refer
Q10: The expected value represents:
A)the weighted average of
Q11: The joint probability of two events occurring
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