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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.
