(i. If there is absolutely no chance a person will purchase a new car this year, the probability assigned to this event is 0.5. (ii) If the set of events are collectively exhaustive and mutually exclusive, the sum of the probabilities equals 1.
(iii) Suppose four heads did appear face up on the toss of a coin four times. The probability that a head will appear face up in the next toss of the coin is 1/2 or 0.5.
A) (i), (ii) and (iii) are all correct statements
B) (i) is a correct statement but not (ii) or (iii).
C) (i) and, (iii) are correct statements but not (ii).
D) (ii) and, (iii) are correct statements but not (i).
E) (i), (ii) and (iii) are all false statements.

Question

Quizplus · Accepted Answer

(i) is incorrect because if there is absolutely no chance of an event happening, the probability is 0, not 0.5. (ii) is correct because if events are mutually exclusive and collectively exhaustive, their probabilities must sum to 1. (iii) is correct because the probability of a fair coin landing heads is always 1/2, regardless of previous outcomes.

(I If There Is Absolutely No Chance a Person Will