Why would a business person use subjective probabilities? Aren't subjective probabilities just guesses? How can they hav
Posted: Sun Sep 05, 2021 5:13 pm
Why would a business person use subjective probabilities? Aren't
subjective probabilities just guesses? How can they have any
reliability in a decision-making situation if they are not based on
some chance process or at least historical data on the relative
frequency of events that have happened in the past?
subjective probabilities just guesses? How can they have any
reliability in a decision-making situation if they are not based on
some chance process or at least historical data on the relative
frequency of events that have happened in the past?