Subjective probability refers to an individual's personal judgment or belief about the likelihood of an event occurring. One example is a sports fan estimating their favorite team's chances of winning a championship based on their knowledge of the team's performance and player conditions. Another example is a person predicting the likelihood of rain tomorrow based on their past experiences and intuition, rather than relying solely on meteorological data.
Subjective based on information given
Objective probability is based on some basis of fact, experimentation, or analysis. Subjective probability is based on someones guess.
subjective
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.
by throwing a coins or dice? maybe...
Subjective based on information given
Objective probability is based on some basis of fact, experimentation, or analysis. Subjective probability is based on someones guess.
when you think
subjective
True
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.
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.
1. subjective probability (intelligent guess) 2. relative frequency (in percent) 3. classical probability (in decimal)
by throwing a coins or dice? maybe...
# of successes = probability or change total
There are three main methods for assigning probabilities Following the classical definition of probability Using relative frequencies Using subjective probability
Probably not........:-)