The probability for all possible events

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    is a measure of the likelihood that a given outcome will occur, and the sum of the probability of all possible outcomes varies depending upon the number of outcomes possible.
     is a measure of the likelihood that a given outcome will occur, and the sum of the probability of all possible outcomes varies depending upon values assigned.
     is a measure of the likelihood that a given outcome will occur, and the sum of the probability of all possible outcomes must add to 100.
     is a measure of the likelihood that a given outcome will occur, and the sum of the probability of all possible outcomes must add to 1.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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is a measure of the likelihood that a given outcome will occur, and the sum of the probability of all possible outcomes must add to 1.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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