Table of contents

1. Introduction to Statistics53m
2. Describing Data with Tables and Graphs2h 1m
3. Describing Data Numerically1h 48m
4. Probability2h 26m
5. Binomial Distribution & Discrete Random Variables2h 55m
6. Normal Distribution & Continuous Random Variables1h 48m
7. Sampling Distributions & Confidence Intervals: Mean2h 8m
8. Sampling Distributions & Confidence Intervals: Proportion1h 20m
- Sampling Distribution of Sample Proportion
  35m
- Confidence Intervals for Population Proportion
  45m
9. Hypothesis Testing for One Sample2h 23m
10. Hypothesis Testing for Two Samples3h 25m
11. Correlation1h 6m
12. Regression1h 4m
13. Chi-Square Tests & Goodness of Fit1h 30m
14. ANOVA1h 4m

4. Probability

Basic Concepts of Probability

Statistics for Business

4. Probability

Basic Concepts of Probability

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Multiple Choice

Which of the following represents the lowest level of probability for an event occurring?

0.25

0.5

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Verified step by step guidance

Step 1: Understand the concept of probability. Probability is a measure of the likelihood of an event occurring, expressed as a number between 0 and 1, where 0 means the event is impossible and 1 means the event is certain.

Step 2: Compare the given probabilities: 0, 0.25, 0.5, and 1. These values represent different levels of likelihood for an event occurring.

Step 3: Recognize that the lowest level of probability corresponds to the smallest numerical value. In this case, 0 represents the lowest probability, indicating that the event cannot occur.

Step 4: Confirm that the other values (0.25, 0.5, and 1) represent higher probabilities, with 1 being the highest, indicating certainty.

Step 5: Conclude that the correct answer is 0, as it represents the lowest level of probability for an event occurring.