The probability of an outcome:
A)ranges between zero and one.
B)is described as an intuitive guess on the part of the decision maker.
C)measures the expected return from an outcome.
D)is always negative.
E)measures the degree of variation around the mean value.

Question

Quizplus · Accepted Answer

The probability of an outcome is defined as the likelihood or chance of that outcome occurring. It must therefore fall between the values of 0 (representing impossible) and 1 (representing certain).

The Probability of an Outcome