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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
Difference between objective probability and subjective probability?
Objective probability is based on some basis of fact, experimentation, or analysis. Subjective probability is based on someones guess.
When probability is determined by personal experimentation and testing it is called what probability?
subjective
What is a real life situation involving subjective probability?
Subjective probability is defined as a person's own judgment of what is or is not going to happen, which does not consist of any kind of mathematical or calculated basis. One situation in which subjective probability would be a factor would be in the stock market. If a person felt that a certain stock would plummet and just had a feeling about it, and sold that stock away, that decision would have been based on subjective probability.
What is two examples on how theory of probability is being applied in real situations?
by throwing a coins or dice? maybe...
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
Difference between objective probability and subjective probability?
Objective probability is based on some basis of fact, experimentation, or analysis. Subjective probability is based on someones guess.
What is a subjective probability?
when you think
When probability is determined by personal experimentation and testing it is called what probability?
subjective
A subjective probability is a probability assessment that is based on experience intuitive judgment or expertise?
True
What examples are there for a theoretical probability of 100?
No probability - theoretical or not - can be 100. Therefore no examples are possible.No probability - theoretical or not - can be 100. Therefore no examples are possible.No probability - theoretical or not - can be 100. Therefore no examples are possible.No probability - theoretical or not - can be 100. Therefore no examples are possible.
What is a real life situation involving subjective probability?
Subjective probability is defined as a person's own judgment of what is or is not going to happen, which does not consist of any kind of mathematical or calculated basis. One situation in which subjective probability would be a factor would be in the stock market. If a person felt that a certain stock would plummet and just had a feeling about it, and sold that stock away, that decision would have been based on subjective probability.
What are the Three Approaches to finding a Probability?
1. subjective probability (intelligent guess) 2. relative frequency (in percent) 3. classical probability (in decimal)
What is two examples on how theory of probability is being applied in real situations?
by throwing a coins or dice? maybe...
What are real life examples of probability?
# of successes = probability or change total
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
Is the probability assigned to an event based on subjective judgment experience information and belief?
Probably not........:-)
