What is the definition of policy outcomes?
Policy outcomes are the results that come about when a governing body output rules or regulations that streamline the plan.
There is no single formula of probability. The probability of a simple event in a trial is a measure of all outcomes which result in the event, expressed as a proportion of all possible outcomes. If all the outcomes have the same probability then it is the ratio of the number of "favourable" outcomes to the total outcomes. However, the definition based on numbers fails if they are not equi-probable.
It depends on the definition of an outcome. If you care about the order of the tosses, <br /> you get 2 possible outcomes per toss. Three tosses give you 2*2*2=8 possible outcomes. If you only care about the final number of heads and tails, there are 4 possible outcomes (3 heads, 2 heads and a tail, a head and two tails, or 3 tails).
Politicians, and the constituents they claim to represent, often have different policy objectives than economic efficiency. That is, while economists often can and have established models for optimal fiscal policies, their end goals differ from those of politicians, so policy is complicated because groups with different desired outcomes must reach a compromise policy.