Empirical, Subjective and Priori Probability

There are three types of probabilities:

Empirical Probability
  • Based on observed or historical data.
Subjective Probability
  • Based on an individual’s judgement about the probability of occurrence of an event.
  • The probability of an event is determined by an individual, based on that person’s past experience, personal opinion, and/or analysis of a particular situation.
Priori Probability
  • Based on prior knowledge.
  • Involves deductive reasoning.

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