3. Classify each statement as an example of classical probability, empirical pro
ID: 3317585 • Letter: 3
Question
3. Classify each statement as an example of classical probability, empirical probability or subjective probability. a. The probability that a person will watch the 6:00 evening news is 0.15. b. The probability of winning at a chuck-a-luck game is 36 The probability that a bus will be in an accident on a specific run is about 6%. The probability of getting a royal flush when five cards are selected at random is 649,740 The probability that a student will get a C or better in a statistics course is about C. d. e. 70%. The probability that a new fast-food restaurant will be a success in Chicago is 35%. f. g. The probability that interest rates will rise in the next 6 months is 0.50.Explanation / Answer
a. The probability that a person will watch the 6:00 news is 0.15.
One can support this claim with actual statistics and so, this is an example of empirical probability.
b. The probability of winning a chuck-a-luck game is 5/36.
Since the calculation is most likely done via theory, this is an example of classical probability.
c. The probability that the bus will be in an accident on a specific run is 6%.
One can support this claim with actual statistics and so, this is an example of empirical probability.
d. The probability of getting a royal flush when five cards are selected at random is 1/649640.
Since the result is obtained by theoritical calculations, this is an example of classical probability.
e. The probability that a student will get a grade of C or better in statistics course is about 70%.
This claim is most likely the result of calculating the grades of students and is an example of empirical probability.
f. The probability that a new fast food restaurant will be a success in Chicago is about 35%.
One can support this claim with actual statistics and so, this is an example of empirical probability.
g. The probability that interest rates will rise in the next 6 months or so is 0.5.
This claim is more of an opinion and is an example of subjective probability.
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