Here are the questions, let me know if you need any revisions.:)
1. Describe the following concepts: random experiment, outcome, event, probability, and
A random experiment is an action or process that leads to one of many possible
outcomes, for example a random experiment can drawing a card from a deck and the
outcome is the card that is drawn. The set of ALL possible outcomes is the sample
space. In this example the sample space would be a list of the cards.
An event is a set of outcomes. In the random experiment of drawing a card from a
deck, an event could be drawing a black card or drawing an odd numbered card. Each
event has a probability assigned to it which describes the likelihood of the event
2. What is the difference between objective and subjective probabilities?
An objective probability is a pr...
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