Reference no: EM131149780
1. Using the video, “Why Probability is Important,” list five reasons to study probability theory. Choose two of these reasons and explain why each is either a compelling reason for you or not a compelling reason for you.
2. To the best of your ability, explain the difference between the classical and logical interpretations of probability.
3. In your own words and to the best of your ability, explain a significant problem for the classical interpretation of probability. (I am not looking for a technical, mathematical answer here. Feel free to explain the problem in informal terms using examples if you need to.)
4. Using the video, “Probability – The Logical Interpretation,” explain the concept of conditional probability.
5. In your own words, what is the benefit of the frequency interpretation of probability over the other two covered in this unit?
6. Choose one of the objections to the frequency interpretation of probability and explain it in your own words.
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