Although he is very poor,Al plays the million-dollar lottery every day because he is certain that one day he will win.Al makes this calculation based upon
A) the frequency of past outcomes.
B) subjective probability.
C) knowledge of all possible outcomes.
D) tossing a coin.

Question

Quizplus · Accepted Answer

Al's belief that he will win the lottery is not based on any objective or historical data, so A and C can be eliminated. It is also not a random event where he has a 50/50 chance of winning like tossing a coin, so D can also be eliminated. Therefore, the best choice is subjective probability as he has developed a personal belief that he will eventually win, despite the low odds of winning.

Although He Is Very Poor,Al Plays the Million-Dollar Lottery Every