QUESTION 1

FALSEorTRUE:Probabilityis thelikelihoodorchancean outcome or event will happen;it is typically represented in numerical form as a ratio or fraction,a decimal or percentage,but can also be described verbally (ex:certain or very unlikely).

True

False

QUESTION 2

Probabilitycan be expressed basically as a ratio:desired outcomes divided by total outcomes. Consider it as a fraction where the numerator,or top, includes the number of outcomes of interest, and the denominator, or bottom, includes the total number of outcomes. Seems reasonable? Common sense?Agreed?

Yes

No

QUESTION 3: As an example, consider closing stock market prices per share for eight stocks in a certain portfolio. Five closed higher in recenttrading; the others did not. What is the probability a randomly selected stock from this portfolio closed higher in recent trading?

Expressing the answer as a fraction, it would be ...

Trust that makes sense. Record the response properly just to reinforce and get comfortable with the formatting.

Type in the answer space only ...

5/8

Then hit SUBMIT. Excellent!

QUESTION 4

Reconsider the previous probability of randomly selecting a stock from the portfolio that closed higher in recent trading,expressed horizontallyas 5/8.

Now, report it as a terminating percentage; donotround the answer, but yes, include the percent symbol, in this format:

##.#%

QUESTION 5

Sometimes what isnotof interest in a probability context can be interesting too.

In the example involving closing stock prices, what about the stocks whose closing prices didnotclose higher? The chance of a randomly selected stocknotclosing higher in recent trading -- it remained unchanged or dropped in price -- would be called thecomplementary probability. It provides the rest of the story. Recall such concepts as complementary angles or complementary colors. Complementary events are opposite to the desired event, or, along with the desired event, complete the space/list of all possible outcome being considered.

Agreed? Don't take my word for it,but ...YES!

Yes

No

QUESTION 6

Return to the closing stock prices per share for eight recently tradedstocks from a portfolio, with five closing higher andthe others did not. What is the probability a randomly selected stock from this portfolio didnotclose higher in recent trading? Again, express the answer as a fraction, written horizontally:#/#

QUESTION 7

Now express this complementary probability for the chance a stock did not close higher as a percentage,without rounding but include the percent symbol.

QUESTION 8

Notice what happens when you add the complementary fractions together?What happens when you add the complementary percentages together?What amountdo you get?The total or the whole,yes!?

Agree or disagree?

Agree

Disagree

QUESTION 9: When you added the two complementary fractions in the closing stock pricesexamples, you get ...oneor1, agreed?

Yes

No

QUESTION 10

When you add the complementary percentages together,what percentage do you get?Report it with the percent symbol withoutany insignificant digits.

Keepin mind this will be true in every case like it!

QUESTION 11

A probabilityiscompoundif it considers at least two events or outcomes at the same time.

Returning to the closing stock prices example, if five stocks closed higher and one stock closed unchanged in the portfolio of eight stocks after recent trading,what is the probability that the stock closed either higher orunchanged? That would be a compound event, selecting a stock that closedeither higher or unchanged. Agreed?

Yes

No

QUESTION 12

Now, continuing with this example withclosing stock prices example whenfive stocks closed higher and one stock closed unchanged in the portfolio of eight stocks after recent trading,determine that probability for randomly selecting a stock that closedeither higher or unchangedafter recent trading.Express the answer as a percentage,including percent symbol but without insignificant digits.

QUESTION 13

How did you compute the previous answer for the probability of randomly selecting a stock from a portfolio that either closed higher or closed unchanged after recent trading? What did you do with the individual or simple probabilities for stocks that closed higherand stocks that closed unchanged? Describe your arithmetic operation in a single, three-letter word. Two words could work that are associated with an arithmeticoperation that isnotsubtraction, multiplication or division. Now you got it? Report only one of the two words, your choice, all lower case letters. You got this!

QUESTION 14

Next up, what's the complementaryphrase, and hence the complementary probability, to a compound event using theeither ... or ...prepositional phrase?

Why, it'sneither...nor ..., of course, agreed?

Yes

No

QUESTION 15

Therefore, continuing with this example withclosing stock prices example whenfive stocks closed higher and one stock closed unchanged in the portfolio of eight stocks after recent trading,determine that probability for randomly selecting a stock that closedneither higher nor unchangedafter recent trading.Express the answer as a percentage,including percent symbol but without insignificant digits.

QUESTION 16: As a reminder,when you add together the probability of an either or event along with the probability of its corresponding neither nor event,you get 100%.Trust should make complete and total(get it, total?)sense, since they are complementaryevents.