No Matter Which Approach Was Used to Assign Probability (Classical,relative

question 6

Short Answer

No matter which approach was used to assign probability (classical,relative frequency,or subjective)the one that is always used to interpret a probability is the ____________________ approach.

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Definitions:

Objective

A specific, measurable, attainable, relevant, and time-bound goal that drives project or business activities.

Effort

The amount of work or energy expended towards the accomplishment of a task or objective.

Additional Interest

Interest that accrues in addition to the regular interest, often due to late payments or changes to agreed terms.

Borrow

The act of obtaining or receiving something with the intention of returning it or its equivalent.