Your friend Dimitre tells you that he thinks that his favorite basketball team has a 70% chance of winning the next game.This is an example of a(n)
A) objective probability.
B) subjective probability.
C) risk-averse statement.
D) Friedman-Savage preference.

Question

Quizplus · Accepted Answer

Dimitre's statement is an example of subjective probability because it is based on his personal belief or opinion rather than on any actual data or calculation. Objective probability, on the other hand, is based on empirical evidence or historical data. The other options (C and D) are not relevant to the given statement.

Your Friend Dimitre Tells You That He Thinks That His