Which of the following statements about a priori probabilities is correct?
A) They are subjective probabilities based on ambiguity in the way probability is perceived.
B) They are subjective probabilities that may vary among individuals because of factors such as age,gender,education,and the use of alcohol.
C) They are objective probabilities that can be determined by deductive reasoning.
D) They are objective probabilities that can be determined by subjective reasoning.
Correct Answer:
Verified
Q13: A name that encompasses all of the
Q14: One of the speculative financial risks considered
Q15: An insurance company estimates its objective risk
Q16: Objective risk is defined as
A)the probability of
Q17: The long-run relative frequency of an event
Q19: An earthquake is an example of a(n)
A)moral
Q20: Taylor Tobacco Company is concerned that the
Q21: ABC Insurance Company plans to sell homeowners
Q22: From the insured's perspective,the use of deductibles
Q23: Which of the following statements about liability
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