The probability of an outcome:
A) ranges between zero and one.
B) is an intuitive guess on the part of the decision maker.
C) measures the expected return from an outcome.
D) reflect the degree of the manager's confidence.
E) measures the degree of variation around the mean value.

Question

Quizplus · Accepted Answer

The probability of an outcome is a measure of its likelihood and ranges between zero (indicating impossible) and one (indicating certain or guaranteed).

The Probability of an Outcome