When the Results of Experimentation or Historical Data Are Used

question 63

Multiple Choice

When the results of experimentation or historical data are used to assign probability values, the method used to assign probabilities is referred to as the:

• A)relative frequency method
• B)subjective method
• C)classical method
• D)posterior method
• E)none of the above

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Definitions:

Table

A set of data arranged in rows and columns that is used to organize information.

Secondary Data

Information that has been previously collected and is available for use by others, not originally gathered for the current research need.

Primary Data

Data collected directly through original research, such as surveys or experiments, providing firsthand information specific to the researcher's study.

Cheaper

Less expensive; costing less than other items or alternatives.