- CFA Exams
- CFA Exam: Level I 2021
- Study Session 3. Quantitative Methods (2)
- Reading 9. Common Probability Distributions
- Subject 1. Basic Definitions

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**CFA Practice Question**

I select two cards from a deck of 52 cards and observe the color of each (26 cards in the deck are red and 26 are black). Which of the following is an appropriate sample space S for the possible outcomes?

B. S = {(red, red), (red, black), (black, red), (black, black)}, where, for example, (red, red) stands for the event "the first card is red and the second card is red."

C. S = {0, 1, 2}

A. S = {red, black}

B. S = {(red, red), (red, black), (black, red), (black, black)}, where, for example, (red, red) stands for the event "the first card is red and the second card is red."

C. S = {0, 1, 2}

Correct Answer: B

Each time I select two cards, each such selection results in either (red, red), (red, black), (black, red) or (black, black).

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**User Contributed Comments**
3

User |
Comment |
---|---|

rethan |
Does sample space mean possible outcomes? |

magicchip |
@rethan: yes, sample space is simply all possible combinations. |

wrrnwng |
Reason that A isn't correct is that the sample size is too small (thus not appropriate)? |