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.