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Subjective Probability
Probability may be determined by a personal statement of how likely an outcome is in a single trial or repetition of the same experiment.
Since subjective probabilities are based on personal judgement, they are peculiar to the individual making the decision. The probability statement depends upon the individual's experience and his familiarity with the facts of the case. Two decision makers with the same amount of information would make different subjective probability estimates of the occurrence of a particular event.
Example
An expert analyst of share prices may give his judgement that the price of ACC shares has a 20% probability of increase i.e., by Rs.500 or more in the next two months, a 60% probability of increase i.e., by less than Rs.500 in the next two months and a 20% probability of remaining unchanged or registering a slight fall.
A set can define as a precise group of distinct objects. Well-defined group means that there be a principle with the help of which it is probable to tell whether a given object rel
The logarithm of a provided number b to the base 'a' is the exponent showing the power to which the base 'a' have to be raised to get the number b. This number is defined as log a
A national park remains track of how many people per car enter the park. Today, 57 cars had 4 people, 61 cars had 2 people, 9 cars had 1 person, and 5 cars had 5 people. What is th
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Last year Jonathan was 603/4 inches tall. This year he is 651/4 inches tall. How many inches did he grow? Subtract to find outthe difference in heights. You will need to borro
The m&m factory produces 2,500 packs of plain m&ms each day. Represent the total number of packs of plain m&ms the factory makes each day
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the formulas of the area of solid figures
To find sq root by the simple step... root (-i)=a+ib............... and arg of -i= -pi/2 or 5pi/2
Prime number A prime number is a number whose only +ve factors are 1 and itself. For instance 2, 3, 5, and 7 are all of the examples of prime numbers. Examples of numbers whic
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