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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.
Calculate the Probability A bag contains 80 balls of such 20 are red, 25 are blue and 35 are white. A ball is picked at random what is the probability that the ball picked is
Cathy is forming a quilt out of fabric panels that are 6 in through 6 in. She needs to know the total area of her square-shaped quilt. Which formula will she use? The area of a
/100*4500/12
solve the inequality (2^x+1)(3^x+1)(4^x+1)
how do i solve equations using addition?
When do you think you should introduce word problems-before children master the formal algorithm, or after? What are your reasons for your choice? In any case, no textbook can s
(1 0 3 21 -1 1 -1 1) find A-1
find the modulus Z=(2-i)(5+i12)/(1+i2)^3
pls help me solve this step by step 6*11(7+3)/5-(6-4)
0.25+25
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