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What else can I help you with?
Is the probability that it will rain tomorrow is 28 percent an example of classical probabilityor empirical probability or subjective probability?
Subjective based on information given
How do you assign numerical values to indicate the probability of an event?
There are three main methods for assigning probabilities Following the classical definition of probability Using relative frequencies Using subjective probability
When is it useful to use probability?
When there is uncertainty about the outcome of a trial or experiment.
What is the definitions of a theoretical probability?
To me, the theoretical probability is what is termed the classical probability. This says the probability is the number of ways an event can occur divided by the number of possible events. Forexample, flip a coin. The theoretical probability for heads is 1/2. However, flip a coin 10 times and you will probably not get 5/10 (or 1/2). Doing the actual experiment to determine the probability is called relative frequency approximation.
How probability useful in whether forecasting?
Most people are not statistically trained so the probability of whether or not you are forecasting is so close to 0 that knowing its value is of little help.
What is prior classical probability?
When you throw a die, there are six possibilities. The probability of a number from 1 to 6 is 1/6. This is classical probability. Compare this with empirical probability. If you throw a die 100 times and obtain 30 sixes, the probability of obtaining a 6 is 30/100 or 0.3. Empirical probabilities change whereas classical probability doesn't.
How useful probability in statistics?
Statistics is based on the theoretical foundation of probability.
What type of probability is when it uses sample spaces to determine the numerical probalitiy that an event will happen?
Classical Probability!
Is the probability that it will rain tomorrow is 28 percent an example of classical probabilityor empirical probability or subjective probability?
Subjective based on information given
What are the Three Approaches to finding a Probability?
1. subjective probability (intelligent guess) 2. relative frequency (in percent) 3. classical probability (in decimal)
How do you assign numerical values to indicate the probability of an event?
There are three main methods for assigning probabilities Following the classical definition of probability Using relative frequencies Using subjective probability
Difference between classical approach and relative approach of probability with example?
Classical approach has possible outcomes which are known with certainity ie sampling distribution is known. Relative approach is an approach in which probability values are based on historical interest.
When is it useful to use probability?
When there is uncertainty about the outcome of a trial or experiment.
What is the difference between relative frequency approximation of probability and the classical approach to probability?
Relative frequency approximation is conducting experiments and counting the number of times the event occurs divided by the total number of events. The classical approach is determine the number of ways the event can occur divided by the total number of events.
What is the definitions of a theoretical probability?
To me, the theoretical probability is what is termed the classical probability. This says the probability is the number of ways an event can occur divided by the number of possible events. Forexample, flip a coin. The theoretical probability for heads is 1/2. However, flip a coin 10 times and you will probably not get 5/10 (or 1/2). Doing the actual experiment to determine the probability is called relative frequency approximation.
Classical optimization methods?
Classical optimization methods are analytical and useful in finding the optimum solution of differentiable and continuous functions. They do have limited scope in practical applications.
How probability useful in whether forecasting?
Most people are not statistically trained so the probability of whether or not you are forecasting is so close to 0 that knowing its value is of little help.
