Probabilities are stated as a decimal figure, a percentage, or a

Probabilities are stated as a decimal figure, a percentage, or a

• A. Stated constant.
• B. Dollar amount.
• C. Fraction.
• D. Credibility factor.

Answer: (C)

Probabilities are expressed as ratios of favorable outcomes to total outcomes, and they can appear as decimals, percentages, or fractions. The completed form is a fraction because a fraction is another standard way to represent a ratio, just like a decimal or a percentage. A stated constant would imply a fixed non-ratio value; a dollar amount isn’t a probability; and a credibility factor belongs to credibility theory as a weight for estimates, not a form of probability. So fraction is the best fit, since probabilities are naturally conveyed as fractions, decimals, or percentages.

Probabilities are expressed as ratios of favorable outcomes to total outcomes, and they can appear as decimals, percentages, or fractions. The completed form is a fraction because a fraction is another standard way to represent a ratio, just like a decimal or a percentage. A stated constant would imply a fixed non-ratio value; a dollar amount isn’t a probability; and a credibility factor belongs to credibility theory as a weight for estimates, not a form of probability. So fraction is the best fit, since probabilities are naturally conveyed as fractions, decimals, or percentages.