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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.
Parallel to the line specified by 10 y + 3x= -2 In this case the new line is to be parallel to the line given by 10 y ? 3x ? -2 and so it have to have the similar slope as this
Intervals which extend indefinitely in both the directions are known as unbounded intervals. These are written with the aid of symbols +∞ and - ∞ . The various types
It takes the moon an average of 27.32167 days to circle the earth. Round this number to the closest thousandth. The thousandths place is the third digit to the right of the dec
A 1500 gallon tank primarily holds 600 gallons of water along with 5 lbs of salt dissolved into it. Water enters the tank at a rate of 9 gal/hr and the water entering the tank has
A motor boat takes Six hours to cover 100 km downstream and 30 km upstream. If the motor boat goes 75 km downstream and returns back to its starting point in 8 hours, find the sp
Fermat's Theorem : If f ( x ) contain a relative extrema at x = c & f ′ (c ) exists then x = c is a critical point of f ( x ) . Actually, it will be a critical point such that f
Chain Rule : Assume that we have two functions f(x) & g(x) and they both are differentiable. 1. If we define F ( x ) = ( f o g ) ( x ) then the derivative of F(x) is,
Danny is a contestant on a TV game show. If he gets a question right, the points for that question are added to his score. If he gets a question wrong, the points for that question
in a veggie mix the ratio of cups of carrots to cups of broccolie is 4 to 5 if you made this party mix larger how many cups of carrots would be needed to mix with fo cups of brocco
if 1/x+2, 1/x+3, 1/x+5 are in AP find x Ans 1/x+2,1/x+3, 1/x+5 are in AP find x. 1/x+3 - 1/x+2 = 1/x+5-1/x+3 => 1/x 2 +5x+6 = 2/ x 2 +8x +15 => On solving we get x
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