WEBVTT

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In this video, we are going to
discuss subjective probability

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So, subjective probability uses a probability
value based on an educated guess or estimate

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employing opinions and inexact information. So, in case of subjective
probability is nothing but a probability of occurrence of an event

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which will be calculated or which will be guessed on
some estimate, with some educated guess or estimate

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and employing some opinions and in exact information. A
physician might say that on the basis of heart diagnosis

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there is a 30% chance the patient will need an operation. So this
is the probability that the physician or the doctor has suggested

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A seismologist might say there is an 80%
probability that an earthquake will occur in a

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a certain area. So, in this way, whenever we are
trying to get some estimates from some, from some

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guesswork and in exact information, then we
shall say that it is falling this particular

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probability calculation is falling under the subjective
probability. I think you are getting this idea

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So here we have discussed in this way in the last
two videos and this video, we have discussed

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all the three types of probabilities.
Thanks for watching this video