Asked by Bushra Abdul Rehman on Sep 26, 2024
What kinds of probabilities are derived mathematically from reliable historical data?
A) Factual
B) Objective
C) Programmed
D) Quantitative
E) Hard
Probabilities
The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.
Reliable Historical Data
Trustworthy and dependable data from the past, used for research, analysis, or decision making, which has been accurately recorded and preserved.
- Understand and utilize principles of risk evaluation and likelihood in decision-making processes.
Learning Objectives
- Understand and utilize principles of risk evaluation and likelihood in decision-making processes.
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