Answers OK-Personal Financial Literacy S1 – EDGNTY-83861 26-27 Gambling, Probabilities, and OddsQuestion 10

10

QuizMultiple Choice

Gambling, Probabilities, and Odds

Question 10 • OK-Personal Financial Literacy S1 – EDGNTY-83861 26-27

What is the meaning of probability?

Answer

A

the desired outcome of an experiment or activity

B

a number that reflects the chance or likelihood that a particular event will occur

C

a number that reflects all possible outcomes of experiment to those that cannot occur

D

the likelihood of the occurrence of one outcome rather than the occurrence of another outcome

Explanation

Probability is a number that describes how likely a particular event is to occur. For example, a probability of 1/2 means an event has an even chance of happening. Choice B gives this definition; choice A describes an outcome, not probability itself.

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