Which of the Following Is True of Subjective Probability

question 15

Multiple Choice

Which of the following is true of subjective probability?

• A) It is a measure of the historical frequency of an uncertain event.
• B) It is a measure of the frequency of a certain event.
• C) It represents the decision maker's best assessment, based on current information, of the likelihood of an uncertain event.
• D) It represents an intuitive and ad hoc assessment.
• E) It measures the degree of variation around the mean.

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Definitions:

Atomic Symbol

A one or two-letter abbreviation that represents a chemical element, derived from its English or Latin name.

Sulfur

A nonmetallic element with symbol S and atomic number 16, known for its bright yellow crystalline form and used in manufacturing sulfates and sulfuric acid.

Atomic Symbol

A one or two-letter notation representing a chemical element (e.g., H for hydrogen, O for oxygen).

Nickel

A hard, silvery-white metallic element with the elemental symbol "Ni" and atomic number 28, used in alloys and to galvanize iron.