In everyday life, you often face situations that may yield a range of possible outcomes, and you are not certain which outcome will result. By assigning a probability to a possible outcome, you attempt to quantify how likely it is that the possible outcome will occur. A probability is a number between 0 and that reflects the likelihood of some outcome. According to the classical approach to assigning probability, the probability that an outcome occurs is interpreted as:
A. A proportion of the time that the outcome occurs when the experiment or situation is presented repeatedly under identical conditions
B. A value calculated by dividing the number of ways the outcome of interest can occur by the total number of possible outcomes, assuming each outcome is equally likely
C. A personal measure of the strength of belief that an outcome will occur. Suppose you assign a probability using the classical approach. Then you should interpret that probability using the approach.

Probability is a number between 0 and 1 ;

B. A value calculated by dividing the number of ways the outcome of interest can occur by the total number of possible outcomes, assuming each outcome is equally likely

Step-by-step explanation:

Probability of an event lies with a standardized range of between 0 and 1.

According to the classical approach, the chances of all members of a set of observations have an equal chance of occurring, hence, the probability of an event A will be defined as the ratio of number of ways an event on interest can occur to the total possible occurrences when all outcomes have equal chances of occurrence.

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step-by-step explanation:

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