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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.
how many mg are there in g?
Two circles touch each other externally: Given: Two circles with respective centres C1 and C2 touch each other externaly at the point P. T is any point on the common tangent
Solve 4 sin 2 ( t ) - 3 sin ( t /3)= 1 . Solution Before solving this equation let's solve clearly unrelated equation. 4x 2 - 3x = 1 ⇒ 4x 2 - 3x -1 = ( 4x + 1) ( x
what should added to the sum of (-26) and 31 to make it equal to the sum of (-35) and (-11) question #Minimum 100 words accepted#
Q. What is a Negative Number? Ans. Negative numbers are very important in mathematics. We say that positive and negative numbers are opposites of one another. Here
no the parallel lines do not meet at infinity because the parallel lines never intersect each other even at infinity.if the intersect then it is called perpendicuar lines
who discoverd unitary method
Give an example of Numerator and Denominator? Fractions represent parts of a whole object. Fractions are written using a horizontal line, with one number on top of the line and
what value of k is he sequence 2k+4,3k-7,k+12 are in an arithmetic sequence is
A girl has 25 plants in all, 8 of them are tomatos. She has 10 more bean plants than pepper plants. How many pepper plants does she have?
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