Sometime it is necessary to assign probabilities based on a person's belief that an outcome will occur.

Name: Sometime it is necessary to assign probabilities based on a person's belief that an outcome will occur.
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This approach is known as subjective probability, where the likelihood of an event is estimated based on an individual's judgment or belief rather than on objective data or long-term frequency.

Sometime It Is Necessary to Assign Probabilities Based on a Person's