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Describe most dependable method for assigning probabilities

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Reference no: EM132829748

There are 3 methods of assigning probabilities: the classical method, the relative frequency method, and the subjective method. The dependability of the assigned probabilities in an experiment is largely dependent on the method selected.

Give an example of an experiment and a resulting data set. Describe the most dependable method for assigning probabilities and the least dependable method for assigning probabilities. Justify your choices.

Reference no: EM132829748

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