Q:

A decision maker subjectively assigned the following probabilities to the four outcomes of an experiment: P(El) = 0.10,P(E2) = 0.15, P(E3) = 0.40, and P(EA) = 0.20Are these probability assignments valid? Explain.PLE) = 0.15, PLE) = 0.40, and PD.= 0.20​

Accepted Solution

A:
Answer:NoStep-by-step explanation:If there are JUST four outcomes of the experiment, it's invalid. Because .1+.15+.4+.2=.85, which is not equal to 1. This is beacuse since the experiment has occurred, the possibility of getting an outcome, which equals the sum of all four kinds of outcomes' possibilities, should be one.