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#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

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

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