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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.
Two stations due south of a tower, which leans towards north are at distances 'a' and 'b' from its foot. If α and β be the elevations of the top of the tower from the situation, Pr
how do i multiply and divide fractions?
Slope of Tangent Line : It is the next major interpretation of the derivative. The slope of the tangent line to f ( x ) at x = a is f ′ ( a ) . Then the tangent line is given by,
Find the number of six-digit positive integers that can be formed using the digits 1,2, 3, 4, and 5 (every of which may be repeated) if the number must start with two even digits o
The positive value of k for which x 2 +Kx +64 = 0 & x 2 - 8x + k = 0 will have real roots . Ans: x 2 + K x + 64 = 0 ⇒ b 2 -4ac > 0 K 2 - 256 > 0 K
Uses of derivative in daily life with examples.
number of ways that a mixed doubles tennis game can be arranged from 7 couples if no husband and wife play in the same game is??
Two events A and B are independent events if the occurrence of event A is in no way related to the occurrence or non-occurrence of event B. Likewise for independent
RELATING ADDITION AND SUBTRACTION : In the earlier sections we have stressed the fact that to help children understand addition or subtraction, they need to be exposed to various
Describe the Types of triangles ? Triangles can be classified according to the lengths of the sides or the measures of the angles. 1. Naming triangles by sides An
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