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Sagot :
Probabilities that can be estimated from long-run relative frequencies of events are called objective probabilities.
What is Objective Probability?
In contrast to intuition or guessing, objective probability refers to the chances or odds that an event will occur based on the examination of certain measurements. Each metric is based on factual observation, a documented observation, or a long history of data collection.
Instead of being dependent on anecdotes, firsthand knowledge, or hunches, the objective probability is based on statistics, experiments, and mathematical measures. Using objective probability is crucial in the realm of finance to prevent making irrational investment decisions.
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