Asked by
Oscar Venegas
on Oct 17, 2024
Verified
Objective probability is the likelihood that a specific result will occur,based on hard facts and numbers.
Objective Probability
The likelihood of an event occurring based on factual, measurable data, unaffected by personal feelings or opinions.
Hard Facts
Concrete, verified information that is undeniable and based on real, tangible evidence.
Specific Result
An outcome that is clearly defined or identified, often in contrast to more general or vague outcomes.
- Understand the concept of objective and subjective probability and how they are applied in decision making.
Verified Answer
GD
Learning Objectives
- Understand the concept of objective and subjective probability and how they are applied in decision making.
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