Determine whether the following probabilities are best categorized as subjective, empirical, or classical probabilities.
a. Before flipping a fair coin, Sunil assesses that he has a 50% chance of obtaining tails.
multiple choice 1
Subjective probability
Empirical probability
Classical probability
Subjective probability
Subjective probability
The best way to determine whether the given probability is subjective, empirical, or classical is to understand the definitions of each one.
1. Subjective probability: This type of probability is based on an individual's personal judgment or belief about the likelihood of an event occurring. It relies on personal opinions, feelings, and subjective assessments.
2. Empirical probability: This type of probability is based on actual observations or data. It is determined by conducting experiments or analyzing historical data to calculate the relative frequency of an event occurring.
3. Classical probability: This type of probability is based on theoretical reasoning and assumptions. It assumes that all possible outcomes of an event are equally likely and makes use of mathematical principles and logical reasoning.
In the given scenario, Sunil assesses that he has a 50% chance of obtaining tails before flipping a fair coin. Since Sunil's assessment is based on personal judgment and not on any actual observations or theoretical assumptions, this probability is best categorized as subjective probability. Therefore, the correct answer is subjective probability.