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Author Question: You draw colored balls out of a bag. You draw a red ball 30 of the time and a blue ball 70 of the ... (Read 116 times)

imanialler

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on: Jul 1, 2018
You draw colored balls out of a bag. You draw a red ball 30 of the time and a blue ball 70 of the time. For each draw, the blue outcome and the red outcome are
 
  A) mutually exclusive.
  B) exhaustive.
  C) Both A and B.
  D) None of the above.

Question 2

Your friend Dimitre tells you that he thinks that his favorite basketball team has a 70 chance of winning the next game. This is an example of a(n)
 
  A) objective probability.
  B) subjective probability.
  C) risk-averse statement.
  D) Friedman-Savage preference.
Microeconomics ¦ Perloff ¦ 8th Edition
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lauravaras

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

B


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