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What is called probability that is based on repeated trials of an experiment?
The probability that is based on repeated trials of an experiment is called empirical or experimental probability. It is calculated by dividing the number of favorable outcomes by the total number of trials conducted. As more trials are performed, the empirical probability tends to converge to the theoretical probability.
What does the Empirical Rule indicate?
An empirical rule indicates a probability distribution function for a variable which is based on repeated trials.
In an experiment are 30 trials as good as 500 trials to predict the chance of a result?
No. The more trials the better. You can only estimate the probability of an outcome based on the data from experimentation. But if you find that the percentage in 90 trials is practically identical to the percentage in 30 trials, that is an indication that the percentage will hold true for even larger numbers of trials.
What is probability that is based on data?
It is called 'Experimental Probability'.
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.
