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Model of Probability

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What is the 'Equally-likely Outcomes Model of Probability?" What is the formula for this model of probability?

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Solution Summary

This solution explains the 'Equally-likely Outcomes Model of Probability." The formula for this model of probability is illustrated through example.

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Probability

A probability provides a quantitative description of the likely occurrence of a particular event.

Probability is conventionally expressed on a scale from 0 to 1; a rare event has a probability close to 0, a very common event has a probability close to 1.

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The probability of an event has been ...

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