Q2. Classify the following probability estimates as classical, relative frequency, or subjective, give your justification for the same: (a) The probability the Cubs will win the World Series this year is 0.175. (b) The probability tuition will increase next year is 0.95. (c) The probability that you will win the lottery is 0.00062. (d) The probability a randomly selected flight will arrive on time is 0.875. (e) The probability of tossing a coin twice and observing two heads is 0.25. (f)   The probability that your car will start on a very cold day is 0.97.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.