QUESTION 1 Think of observing a large number of independent \"trials,\" or repea

Question

QUESTION 1 Think of observing a large number of independent "trials," or repeats, of some random experiment and let E be some event of interest For example, the experiment could represent flipping a (possibly weighted) coin or rolling a (possibly weighted) die thousands of times and looking for heads or 6 to come up (respectively). or betting on a particular number in a game of roulette over and over, or watching a particular stock price over hundreds of days and noting which days the price was up or down, or any other experiment that is repeatable but whose outcome on each trial is random Match each one of the following statements about the event E to the number that best represents or describes t n the context ofprobably he . The event E cannot happen (or is impossible) 1.0.99 2.0 -The event E is guaranteed to occur (or is certain to occur) The event E is very unlikely to occur, but it is possible and will occur 0 75 occasionally 4051 The event E is very likely to occur, but there is a small chance that it 5 wont 6. 109 The event E will occur about as often as it doesn't occur 0.03 The event E will occur more often than not This number is not a valid probability

Explanation / Answer

a) impossible to happen - 0

b) certain to happen - 1

c) Unlikelt to occur but possible and will occur occasionally - 0.03

d) E very likely to occur, but there is a small chance that it won't - 0.99

e) The event E will occur about as often as it does not occur - 0.51

f) E will occur more often than not - 0.75

g) Not a valid probability - 1.09 (probability should lie between 0 to 1)

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