Final answer:
The sample space for the experiment where a company decides to 'go ahead' with research or 'cancel' the project is {go ahead, cancel}.
Step-by-step explanation:
The sample space of an experiment is the set of all possible outcomes of that experiment. When the management of a chemistry research company must decide whether to go ahead with researching a new element or to cancel the project, the two possible outcomes are ‘go ahead’ with the research or ‘cancel’ the project. Therefore, the correct sample space is {go ahead, cancel}.
A sample space is a collection or a set of possible outcomes of a random experiment. The sample space is represented using the symbol, “S”. The subset of possible outcomes of an experiment is called events. A sample space may contain a number of outcomes that depends on the experiment. If it contains a finite number of outcomes, then it is known as discrete or finite sample spaces.
The samples spaces for a random experiment is written within curly braces “ { } “. There is a difference between the sample space and the events. For rolling a die, we will get the sample space, S as {1, 2, 3, 4, 5, 6 } whereas the event can be written as {1, 3, 5 } which represents the set of odd numbers and { 2, 4, 6 } which represents the set of even numbers.