The probabilities along a path are called probabilities joint conditional complex none of the above The probability of a path is the product of all the branch probabilities along it and is called a joint probability conditional probability basic probability none of the above A real option's value may be more than the amount by which its inclusion in a capital budgeting project increases the project's expected NPV because the real option may reduce the project's risk. increase the amount the firm makes if the project turns out really well. reduce the loss if the project fails badly. a and c