Show how to describenbspgiven experiment in terms of more


A spinner as shown in the figure selects a number from the set  If we select the outcomes  as atomic outcomes and use the classical approach to assigning probabilities, then we would conclude that the spinner selects all four numbers each with equal probability, 1/4.

Show how to describe this experiment in terms of more fundamental outcomes so that the classical approach leads to a more reasonable probability assignment.

626_Figure-spinner.jpg

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Financial Econometrics: Show how to describenbspgiven experiment in terms of more
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