A telecommunications company is interested in determining the likelihood of a new breakthrough technology being developed in the next ten years. What type of probability would they estimate?
A) Relative Frequency
B) Classical
C) Personal
D) Mathematical
E) Empirical

Question

Quizplus · Accepted Answer

The company would likely estimate a personal probability, as it is based on subjective beliefs or opinions rather than historical data or mathematical calculations. It is not a relative frequency probability because it cannot be based on past occurrences, and it is not a classical probability because there is no clear definition of equally likely outcomes. It is not a mathematical probability because there is no precise data or formula to calculate the likelihood of a breakthrough technology occurring. Finally, it is not an empirical probability because it is not based on observed data.

A Telecommunications Company Is Interested in Determining the Likelihood of a New