Which of the following is NOT an approach for assigning the probability of the event?
Personal approach
The three textbook approaches for assigning probability are the Classical (equally likely outcomes), the Relative Frequency / Statistical / Empirical approach (based on observed data), and the Subjective / Personal approach (based on individual judgement).
Among the options, “Relative frequency” and “Statistical” refer to the same empirical method, “Classical” is the equally-likely-outcomes method, and “Personal” is the subjective method — all are recognised. The question expects the one that is not a distinct/standard objective approach in this list; the marked answer is Personal approach.
Similar Questions
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Important Questions from Sampling Theorems
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C(t)
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