Applying Probability
There are three approaches to finding probability that you discussed in this unit; theoretical probability, relative frequency probability, and subjective probability. From your own experience either personally and/or professionally provide one example of where you have encountered each of these different probabilities. Be sure to explain why the example you cite is an example of the particular approach to finding probability
This week we are looking at Probability! There are three different types of probability-
The first is Theoretical Probability, which is the probability of what could happen (in theory) based on the options available. For instance, we can determine the theoretical probability of a coin landing on heads with one flip as 1/2. This is because there is one way to land on heads over the two possible ways the coin could land.
The second is Relative Frequency (sometimes referred to as Experimental or Empirical Probability). This is found by performing an experiment and looking at the probability of what actually occurred. If we actually flipped a coin 4 times and it landed on heads 3 of those times, then the relative frequency probability is found as 3/4. The relative frequency probability for tails would be 1/4.
The third is Subjective Probability. This is the type of probability that is based on your "gut feeling" or using your best judgement!
I hope this helps you get started on the discussion response for this week! I am looking forward to reading your thoughts!
200 words with references!