Which Three of the Following Statements Correctly Relate to Subjective

question 43

Multiple Choice

Which three of the following statements correctly relate to subjective probability?

• A) Decision making based on subjective probabilities will be subject to some margin of error.
• B) Subjective probabilities typically involve personal judgment of the range of outcomes along with the likelihood of their occurrence.
• C) They are useful where there are no past records to help in the creation of the distribution of probabilities profile.
• D) Decisions based on subjective probabilities are always more reliable than those based on objective, purely numerical, information.

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Definitions:

Cattell

A reference to Raymond Cattell, a psychologist known for his work in personality theory, including the development of the 16 personality factor model.

Personality

The fusion of distinct traits that constitute a person's unique character.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing their behaviors, thoughts, and emotions.

Flexibility

The quality of being adaptable or variable, especially in the face of change or challenge.