Subjective probability ________.
A)can have all probabilities deduced from theoretical arguments because the process that generates the outcomes is known
B)is based on personal judgment
C)is the same as conditional probability
D)is based on experimental data

Question

Quizplus · Accepted Answer

Subjective probability is based on personal judgment and is not deduced from theoretical arguments or experimental data. It is usually used when it is difficult or impossible to gather data, or when data is unreliable. Conditional probability is a probability that takes into account some extra information or condition that is known to affect the outcome. These two concepts are not the same.

Subjective Probability ________