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There is a variety of points of view as to how probability should be interpreted. These impact the manner in which probabilities are assigned(or assumed). One important dichotomy among practitioners.

  • One group believes probability is objective in the sense that it is something inherent in the nature of things. It is to be discovered, if possible, by analysisand experiment. Whether we can determine it or not, “it is there.”
  • Another group insists that probability is a condition of the mind of the person making the probability assessment. From this point of view, the laws of probability simply impose rational consistency upon the way one assigns probabilities to events. Various attempts have been made to find objectiveways to measure the strength of one's belief or degree of certainty that an event will occur. The probability P ( A ) expresses the degree of certainty one feels that event A will occur. One approach to characterizing an individual's degree of certainty is toequate his assessment of P ( A ) with the amount a he is willing to pay to play a game which returns one unit of money if A occurs, for a gain of ( 1 - a ) , and returns zero if A does not occur, for a gain of - a . Behind this formulation is the notion of a fair game , in which the “expected” or “average” gain is zero.

The early work on probability began with a study of relative frequencies of occurrence of an event under repeated but independent trials. This idea is so imbedded in much intuitive thought about probability that some probabilistshave insisted that it must be built into the definition of probability. This approach has not been entirely successful mathematically and has notattracted much of a following among either theoretical or applied probabilists. In the model we adopt, there is a fundamental limit theorem, known as Borel's theorem , which may be interpreted “if a trial is performed a large number of times in anindependent manner, the fraction of times that event A occurs approaches as a limit the value P ( A ) . Establishing this result (which we do not do in this treatment) provides a formal validation of the intuitive notion that lay behindthe early attempts to formulate probabilities. Inveterate gamblers had noted long-run statistical regularities, and sought explanations from their mathematically giftedfriends. From this point of view, probability is meaningful only in repeatable situations. Those who hold this view usually assume an objective view of probability. It is a numberdetermined by the nature of reality, to be discovered by repeated experiment.

There are many applications of probability in which the relative frequency point of view is not feasible. Examples include predictions of the weather, the outcome of agame or a horse race, the performance of an individual on a particular job, the success of a newly designed computer. These are unique, nonrepeatable trials. As the popularexpression has it, “You only go around once.” Sometimes, probabilities in these situations may be quite subjective. As a matter of fact, those who take asubjective view tend to think in terms of such problems, whereas those who take an objective view usually emphasize the frequency interpretation.

Questions & Answers

Is there any other type of a eukaryotic cell.
Grace Reply
what is bionomial nomenclature
Rachaelda Reply
state the role of mitochondria
Rachaelda
mitochondria ia power House of the cell. it provides energy and as ATP. Cells energy currency.
Haider
The scientific method of giving short names on the basis of genius and species.
Haider
it is introduce by carlous Lennieus
Haider
it is naming of living organism where by they are given two names one generic and the other specific name
Kenneth
what is element
Kofi Reply
Structure of water molecule and it's biological significance. .....help guys
Ashly
what is the formula for chemical equetion
Justo Reply
Why mitochondria is called the power house of the congo the bahamas cell
Farrukh Reply
how can I learn this subject?
mascuud Reply
what's microscope?
Mathias Reply
A device used to study a very small specimen thst cannt br seen with the naked eyes for example cells, or microorganisms.
Danisha
a medical device used to study cells bacteria viruses and parasites e.g electron microscope for studying cells.
Grace
exactly microscope
Randa
is an instrument use to view microorganisms such as viruses and bacteria
Ohene
it is an instrument used to magnify micro-scopic organism
Kenneth
what does multi seminar mean
Grace Reply
many seminars
Grace
how many cells on the human
Amar Reply
how is genetic testing?
Nyabuoy
test
Nyuongatdet
which party of an internal leaf which represent organ and tissue
fernando
3 trilleons cells on the human
Jyoti
name the groups of bacteria, what they cause and explain the components of bacterial cell
Emmanuel
what are the three level of relationship that exist between organism?
Chinedu
trillions of cells
Grace
unicellular
Kenneth
who many cell are in the human body
Ayasso Reply
trillions of cells
Grace
what causes coloring of skin variation
Prince Reply
what is your answer
Jonathan Reply
which qn
Randa
what is chemosynthesis
Irene
who many cell are in the human body
Ayasso
there are billion cells in human body
fazeela
what are three stages of mitosis
jerry
they're alot cells in our body
jerry
what are the stages of mitosis
jerry
they are prophez methaphez anaphez. thelophez
fazeela
anyone to explain each of the following,, prophase, metaphase, anaphase and telophase
jerry
what is a filial
Mbah Reply
denoting the offspring of a cross
Grace
what is the difference between chlorophyll and photosynthesis
Rahman Reply
Chloe is the green pigment found in green plants while photosynthesis is the process by which plant produce their own food
mary
photosynthesis is the production of food by plant while chlorophyll is the green pigment that is found in chloroplast..
jerry
chrolophyll (green colouring matter in leaves) while photosynthesis (process by which green plants make their own food)
Nakhombi
What isaac life
Farrukh
chlorophyll is the pigment that gives a plant its green color while photosynthesis is when a plant makes it's own food.
Grace
photo meaning light and synthesis meaning to make
Grace
what are the functions of parts of microscope
Bami Reply
base to provide support
Ian
only base what about the other
Bami
has only one function
Mark
Mirror ... used to reflect light
Irene
A fair die is tossed 180 times. Find the probability P that the face 6 will appear between 29 and 32 times inclusive
Samson Reply

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Source:  OpenStax, Applied probability. OpenStax CNX. Aug 31, 2009 Download for free at http://cnx.org/content/col10708/1.6
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