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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 does unlikely mean in probability?
In common usage, unlikely means a low probability of occurrence. But as a term in mathematics, an unlikely event is not rigorously defined as a "low number" is subjective. Certainly, in a comparative sense, i.e. event A is less likely to occur than event B, we can state that the probability of occurrence of A is less than B.
What does it mean to find the compliment of the probability of an event?
The complement (not compliment) of the probability of event A is 1 minus the probability of A: that is, it is the probability of A not happening or "not-A" happening.The complement (not compliment) of the probability of event A is 1 minus the probability of A: that is, it is the probability of A not happening or "not-A" happening.The complement (not compliment) of the probability of event A is 1 minus the probability of A: that is, it is the probability of A not happening or "not-A" happening.The complement (not compliment) of the probability of event A is 1 minus the probability of A: that is, it is the probability of A not happening or "not-A" happening.
Is 1.001 a probability?
No 1.001 is not a probability. Probability can not be >1
If a coin is tossed 5 times what is the probability of getting tails no more then 2 times?
The probability is 0.5The probability is 0.5The probability is 0.5The probability is 0.5
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
A subjective probability is a probability assessment that is based on experience intuitive judgment or expertise?
True
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)
Is the probability assigned to an event based on subjective judgment experience information and belief?
Probably not........:-)
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
What approach to probability is based on a persons degree of belief and hunches that a particular event will happen?
Subjective If you assume particular events will happen with a certain prior distribution, that is Bayesian probability.
What is a subjective approaches?
A Subjective Approach, is when the outcomes do not have the same probability of occurrence. For example you have 90% (0.9) to pass your exam, therefore you have 10%(0.1) to fail. The probability of failing and passing is different so the above example is an example of a subjective approach. In oppose to Classical approach where all outcome have the same likeliness of happing. Example: Flipping a coin 50% for both Heads and Tails.
What does unlikely mean in probability?
In common usage, unlikely means a low probability of occurrence. But as a term in mathematics, an unlikely event is not rigorously defined as a "low number" is subjective. Certainly, in a comparative sense, i.e. event A is less likely to occur than event B, we can state that the probability of occurrence of A is less than B.
What does a prognosis of fair mean?
While subjective, "fair" indicates a moderate probability of returning to normal function - it's not great odds, but the risk of severe complications or death is low.
