#reading-9-probability-concepts
Relationships must be stable through time for empirical probabilities to be accurate. We cannot calculate an empirical probability of an event not in the historical record or a reliable empirical probability for a very rare event. There are cases, then, in which we may adjust an empirical probability to account for perceptions of changing relationships. In other cases, we have no empirical probability to use at all. We may also make a personal assessment of probability without reference to any particular data. Each of these three types of probability is a
subjective probability, one drawing on personal or subjective judgment
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