Join thousands of students who trust us to help them ace their exams!Watch the first video
Multiple Choice
Which of the following is one of the two broad categories of probability?
A
Predictive probability
B
Inferential probability
C
Classical probability
D
Descriptive probability
Verified step by step guidance
1
Step 1: Understand the concept of probability categories. Probability is broadly categorized into two main types: Classical probability and Empirical probability. Classical probability is based on theoretical reasoning, while Empirical probability is based on observed data.
Step 2: Define Classical probability. Classical probability assumes that all outcomes in a sample space are equally likely. It is calculated using the formula: P(E) = (Number of favorable outcomes) / (Total number of possible outcomes).
Step 3: Compare Classical probability with other terms mentioned in the problem. Predictive probability and Inferential probability are not standard categories of probability. Descriptive probability is also not a recognized category in probability theory.
Step 4: Recognize that Classical probability is one of the two broad categories of probability. The other category is Empirical probability, which is based on experimental or observed data.
Step 5: Conclude that the correct answer is Classical probability, as it is one of the two recognized broad categories of probability.