Operators of a local racetrack are interested in calculating the probability of rain during a major upcoming event. When calculating probability, what assumption is made about all outcomes of an event?

Question

Quizplus · Accepted Answer

When calculating probability, an assumption is made that all outcomes of an event have an equal likelihood of occurrence.
Key Takeaway: Probability calculations are important in predicting the outcome of events. If the local racetrack owner finds the probability of rain spoiling a major event to be 50%, for example, he or she may choose an indoor venue.

Operators of a Local Racetrack Are Interested in Calculating the Probability