How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ryan Your Own Question
Ryan, Engineer
Category: Calculus and Above
Satisfied Customers: 8982
Experience:  B.S. in Civil Engineering
Type Your Calculus and Above Question Here...
Ryan is online now
A new question is answered every 9 seconds

1.) Suppose a expierment has 5 equally likley outcomes: E1.

Resolved Question:

1.) Suppose a expierment has 5 equally likley outcomes: E1. E2, E3, E4, E5. Assign probabilities to each outcome. What method did you use?

7.) A decesion maker subjectively assigned the following probabilities to the four outcomes of an expierment: P(E1)= .10, P(E2)= .15, P(E3)=.40, and P(E4)= .20. Are ther=ese probability assignments valid? Explain
Submitted: 5 years ago.
Category: Calculus and Above
Expert:  Ryan replied 5 years ago.

Thank you for using JustAnswer.

1) Since each outcome is equally likely, and the sum of the probabilities of all five outcomes must equal 1.00, the probability of each individual outcome is:

1.00 / 5 = 0.20

We are simply dividing the required total, 1.00, into five equal portions, one for each outcome.

7) No, these are not valid probability assignments because the sum of the probabilties is only 0.85. For the assignments to be valid, the sum of the probabilties of all possible outcomes must be equal to 1.00, and each individual probability must be between 0 and 1.


Ryan, Engineer
Satisfied Customers: 8982
Experience: B.S. in Civil Engineering
Ryan and other Calculus and Above Specialists are ready to help you
Expert:  Math-John replied 5 years ago.
Thank you for requesting me and sorry for missing your request. Next time you may begin your questions with "For John" so that other experts know it's for me.

Related Calculus and Above Questions