Here are the essential concepts you must grasp in order to answer the question correctly.
Classical Probability
Classical probability is based on the assumption that all outcomes in a sample space are equally likely. It is calculated by dividing the number of favorable outcomes by the total number of possible outcomes. For example, the probability of rolling a three on a fair six-sided die is 1/6, as there is one favorable outcome and six possible outcomes.
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Empirical Probability
Empirical probability, also known as experimental probability, is determined by conducting experiments or observing real-world events. It is calculated by taking the ratio of the number of times an event occurs to the total number of trials. For instance, if you flip a coin 100 times and it lands on heads 55 times, the empirical probability of getting heads is 55/100 or 0.55.
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Subjective Probability
Subjective probability is based on personal judgment, intuition, or experience rather than on exact calculations or empirical data. It reflects an individual's belief about the likelihood of an event occurring. For example, estimating a 25% chance of getting all desired classes in a schedule is a subjective probability, as it relies on personal assessment rather than statistical analysis.
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