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Assign a probability that stanford will beat uc berkeley

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Reference no: EM131757556

Question: Big Game is the annual football rivalry game between Stanford University and UC Berkeley. Jack assigns a probability of 0.6 that Stanford will beat UC Berkeley in Big Game 20XX. Kim believes that the probability is actually 0.4 and challenges Jack to a bet. If UC Berkeley wins, Jack pays Kim $100 and if Stanford wins, Kim pays Jack $100.

Which of the following statements is valid?

a. If Kim wins the bet, we know that she made a good decision.

b. The objective probability that Stanford wins the game is between 0.4 and 0.6.

c. The clairvoyant's probability that Stanford will win Big Game 20XX is greater than 0 and less than 1.

d. None of the preceding statements is valid.

Reference no: EM131757556

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