Asked by
Natalie Espinoza
on Oct 17, 2024Verified
_____probability depends more on past records and facts than_____probability.
A) Subjective;objective
B) Objective;subjective
C) Certainty;uncertainty
D) none of these
Subjective Probability
An individual's personal estimate of the chance of occurrence of a particular event.
Objective Probability
The likelihood of an event occurring based on a calculation from available data, independent of personal thought or opinion.
- Learn the differences between subjective and objective probabilities and their impact on decision-making.
Verified Answer
LB
Learning Objectives
- Learn the differences between subjective and objective probabilities and their impact on decision-making.