#reading-9-probability-concepts
A probability of an event E, P(E), can be stated as odds for E = P(E)/[1 − P(E)] or odds against E = [1 − P(E)]/P(E).
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Summary a relative frequency of occurrence is an empirical probability. A probability drawing on personal or subjective judgment is a subjective probability. A probability obtained based on logical analysis is an a priori probability.
<span>A probability of an event E, P(E), can be stated as odds for E = P(E)/[1 − P(E)] or odds against E = [1 − P(E)]/P(E).
Probabilities that are inconsistent create profit opportunities, according to the Dutch Book Theorem.
A probability of an event not conditioned on anothe Summary
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