If I am likely to choose a decision with 3% probability, there will be 3 people in every hundred out there, who will like that decision. How much reasonable is it? I think this is one of the fundamental approaches of the theory of probability.
Suppose for a certain binary event e we have seen all the practical outcomes till the end of time. And among them t times the outcome was true and the rest of the cases the outcome was false. Now, it would be proper to assign a probability of t/e to the outcome of that binary event being true. So, after knowing this ratio if one tries to guess the outcome of e
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