Question

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.

Explanation:

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, about 90% of them are expected to end in settlement and 10% are expected to go to trial. It is a measure of the relative frequency of the settlement outcome in the long - run.

Answer:

This probability of 0.90 means that in the long - run, for a large number of similar legal disputes, 90% of them are likely to end in settlement and 10% are likely to go to trial.