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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.
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What are real life examples of probability?
# of successes = probability or change total
Real life situation involving function examples?
Functions are an integral part of mathematics, and most students learn them from Algebra II and up. A real life example of a function would be the relation between the height of a ball and how long it has been in the air.
What is probability in everyday life?
Probability in real life can be said as something that usually happens. No one can predict the future, however; one can determine how likely it is that something will or will not happen.
What is the probability that the life of a single tire will be less than 39200 miles Sampling distribution mean life of 40000 miles with a standard deviation of 4620 miles?
The probability is 0.4312
Relation between expected return in real life and probability?
no
