The probability of a person purchasing a car with cash is \( p = 0.08 \), which is 8%. This suggests that the event is relatively rare.
Based on the probabilities:
- A probability of 0 implies the event is impossible.
- A probability of 1 implies the event is certain.
- Probabilities less than 0.5 typically indicate that the event is unlikely.
Since 0.08 is much less than 0.5, it is reasonable to describe this event as very unlikely.
Therefore, the best term to describe the probability of this event is:
B. very unlikely