A Subjective Definition of Probability Is

question 26

Multiple Choice

A subjective definition of probability is:

• A) a weighted average of different peoples' degrees of certainty of an event's occurring.
• B) a theoretical probability distribution.
• C) a person's degree of certainty of an event's occurring.
• D) an expected value of a particular outcome.
• E) the number of occurrences of an event in a large number of repetitions of an experiment.

---

Definitions:

Functional Structure

An organizational structure where the company is divided into departments based on their functions, such as marketing, operations, and finance.

Geographic Location

The specific physical position of something on the Earth's surface, determined by its latitude, longitude, and other factors.

Matrix Structure

An organizational structure that combines two or more types of organizational structures, most commonly functional and product-based divisions, aiming for greater flexibility in management.

Transnational Company

A multinational corporation that operates in multiple countries but adjusts its practices and products to local conditions.