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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.
r=asin3x
square root 2 on the number line
Telescoping Series It's now time to look at the telescoping series. In this section we are going to look at a series that is termed a telescoping series. The name in this c
Graph A graph G = (V, E) contains a (finite) set that is denote by V, or by V(G) if one wishes to make clear which graph is under consideration, and a collection E, or E(G), o
David invests $17,000 into an account and at the end of 7 years, his account has a balance of $ 26,417.77. What is the interest rate (assuming annual compounding)?
The vector a → =(2,4) compute 3a → , ½ a → and -2a → . Graph all four vectors on similar axis system. Solution: Now here are the three scalar Multiplication 3a → = (6,
What is shares and dividends?
greens function for x''''=0, x(1)=0, x''(0)+x''(1)=0 is G(t,s)= {1-s for t or equal to s
The conjugate of the complex number a + b i is the complex number a - b i . In other terms, it is the original complex number along the sign on the imaginary part changed. Here
If ABCD isaa square of side 6 cm find area of shaded region
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