________ Probability Is an Estimate Based on Personal Belief, Experience

question 58

Multiple Choice

________ probability is an estimate based on personal belief, experience, or knowledge of a situation.

• A) Binomial
• B) Subjective
• C) Marginal
• D) Joint

---

Definitions:

Balance Sheet

A financial statement that presents a snapshot of a company's financial position, including assets, liabilities, and shareholders' equity, at a specific point in time.

Annuity

is a financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees.

Compound Interest

Interest calculated on the initial principal as well as on the accumulated interest of previous periods of a deposit or loan.

Present Value

The value at present of future cash earnings or accumulations of money, determined by applying a pre-specified rate of financial return.