Business Decision Analysis for Cases with Probability Data


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question 1 of 3

What is probability data?

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1. What does a probability of zero mean?

2. When you add all of the probabilities of an outcome, what is the result?

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About This Quiz & Worksheet

Specifically, this quiz and worksheet are going to ask you questions about topics like probability data, the probability of zero, and the result of adding all of the probabilities of an outcome.

Quiz & Worksheet Goals

To elaborate, you'll be examined on:

  • The definition of probability data
  • A probability of zero's meaning
  • What the result of adding all of an outcome's probability is
  • Traits of the objective approach
  • Traits of the subjective approach

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about probability in data
  • Information recall - access the knowledge you've gained regarding objective and subjective approaches
  • Interpreting information - verify that you can read information regarding probabilities of zero, probabilities of an outcome, and interpret it correctly

Additional Learning

What else can you learn as far as probability data and decision analysis? Determine that question's answer by using our related video lesson, Business Decision Analysis for Cases with Probability Data. This lesson will cover things such as:

  • The definition of probability data
  • How to calculate probability
  • Different approaches to probability