Subjective Probability Is an Estimate Based on Personal Belief, Experience

question 18

True/False

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

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Definitions:

Eastern Philosophy

A diverse body of thought originating from various Asian cultures, including Chinese, Indian, and Japanese philosophies, focusing on concepts such as harmony, balance, and enlightenment.

John Cage

An innovative American composer, music theorist, artist, and philosopher known for his experimental music and use of chance operations.

Fluxus Artists

A group of avant-garde artists from the 1960s and 70s who were involved in a movement that emphasized artistic process and ideas over the finished product.

Happenings

Happenings refer to a form of performance art that emerged in the late 1950s and early 1960s, involving interactive events staged as art, characterized by their improvisational nature and the active participation of the audience.