1. in a new york times article, an analyst stated that the probability of a legal dispute ending in a…

1. in a new york times article, an analyst stated that the probability of a legal dispute ending in a settlement, rather than going to trial, is around 0.90. interpret this probability.

1. in a new york times article, an analyst stated that the probability of a legal dispute ending in a settlement, rather than going to trial, is around 0.90. interpret this probability.

Answer

Brief Explanations:

Probability represents the likelihood of an event. A probability of (0.90) (or (90%)) for a legal dispute ending in settlement means that if we consider a large number of similar legal disputes, approximately (90%) of them are expected to end in settlement and (10%) to go to trial. It is a measure of the chance or relative frequency of the "settlement" outcome among all possible outcomes (settlement or trial) for legal disputes.

Answer:

The probability of (0.90) means that out of a large number of similar legal disputes, about (90%) are likely to end in settlement and (10%) are likely to go to trial.