Description
Journal Assignment Content: Unit III
In everyday life, we often try to guess how likely, or probable, an event is and then base decisions on these guesses. Sometimes, these guesses may be biased based on personal preference or past experiences.
Give an example of subjective probability (probabilities that result from intuition, educated guesses, and estimates) from your personal life.
Describe how you would calculate the same probability in a more rigorous (i.e., formal) way.
How do you think the results from your first guess would compare to the results from the more formal calculation?
Would the formal calculation support your first guess or refute it? Why?
Your journal entry must be at least 200 words in length. APA style. No references or citations are necessary.
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