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Earn +20 ptsQ: What are two examples of subjective probability?
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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...
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