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L1 08 Probability Concepts > B > Flashcards

Flashcards in B Deck (4)
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1
Q

The two defining properties of probabilities

A
  1. 0.0<eq 1.0

(Read from inside out) The prob. of an E is equal or greater than 0 but equal or less than 1.

  1. SumP(E) = 1.0

The sum of probabilities is equal to one

2
Q

Empirical probabilities (objective: Does not vary between individuals)

A

Data: Estimated from data (historical events)

3
Q

Subjective probabilities

A

What do you think is going to happen?: Personal judgement

4
Q

A Priori probabilities (objective: Does not vary between individuals)

A

Deduce probabilities by logical analysis

Decks in L1 08 Probability Concepts Class (17):