Which of the following is true of subjective probability? A.) it is a measure of the frequency of a certain event B.) it is a measure of the historical frequency of an uncertain event C.) It measures the degree of variation around the mean D.) it represents the decision maker’s best assessment, based on current information, of the likelihood of an uncertain event
Which of the following is true of subjective probability? A.) it is a measure of the frequency of a certain event B.) it is a measure of the historical frequency of an uncertain event C.) It measures the degree of variation around the mean D.) it represents the decision maker’s best assessment, based on current information, of the likelihood of an uncertain event
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section: Chapter Questions
Problem 5CC
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Question
Which of the following is true of subjective probability ?
A.) it is a measure of the frequency of a certain event
B.) it is a measure of the historical frequency of an uncertain event
C.) It measures the degree of variation around the mean
D.) it represents the decision maker’s best assessment, based on current information, of the likelihood of an uncertain event
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