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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.
Example of division: Divide 738 by 83. Solution: Example: Divide 6409 by 28. Solution: Division could be verified through multiplying
Last year, a math textbook cost $54. This year the cost is 107 percent of what it was last year. What is this year's cost? a. $59.78 b. $57.78 c. $61.00 d. $50.22 To ?nd out
y=x4/4lnx-x4/16 then dy/dx=? Solution) dy/dx=-x^3/4(2/lnx-1)^2. ^ means power
Find out the hydrostatic force on the following triangular plate that is submerged in water as displayed. Solution The first thing to do here is set up an axis system
Solve sin (3t ) = 2 . Solution This example is designed to remind you of certain properties about sine and cosine. Recall that -1 ≤ sin (θ ) ≤ 1 and -1 ≤ cos(θ ) ≤ 1 . Th
Mark is preparing a walkway around his inground pool. The pool is 20 by 40 ft and the walkway is intended to be 4 ft wide. Determine the area of the walkway? a. 224 ft 2 b.
Determine how many different words can be formed out of the letters of the word VARANASI? Ans: 720 different words can be formed out of the letters of the word VARANASI.
2 times n times n divided by n
5 2 --- - --- x-1 x+1
Graph y = sin ( x ) Solution : As along the first problem in this section there actually isn't a lot to do other than graph it. Following is the graph. From this grap
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