An experiment consists of four outcomes with P(E1) = 0.2, P(E2) = 0.3, and P(E3) = 0.4. The probability of outcome E4 isGroup of answer choices0.900.0.500.0.024.0.100.

Given information: An experiment consists of four outcomes, i.e. E1, E2, E3, and E4. P(E1) = 0.2,…

Answered: An experiment consists of four outcomes…

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter19: Externalities And Public Goods

Section: Chapter Questions

Problem 19.12P

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Question

An experiment consists of four outcomes with P(E₁) = 0.2, P(E₂) = 0.3, and P(E₃) = 0.4. The probability of outcome E₄is

Group of answer choices

0.900.

0.500.

0.024.

0.100.

Expert Solution

Step 1

Given information:

An experiment consists of four outcomes, i.e. E₁, E₂, E_3, and E₄.

P(E₁) = 0.2, P(E₂) = 0.3, and P(E₃) = 0.4

It implies the probability of outcome E₁ is 0.2, the probability of outcome E₂ is 0.3, and the probability of outcome E₃ is 0.4

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An experiment consists of four outcomes with P(E1) = 0.2, P(E2) = 0.3, and P(E3) = 0.4. The probability of outcome E4 is Group of answer choices 0.900. 0.500. 0.024. 0.100.