Which set correctly lists the three types of probability described?

Which set correctly lists the three types of probability described?

• A. Theoretical, Experimental, Axiomatic
• B. Relative, Absolute, Conditional
• C. Simple, Compound, Conditional
• D. Exact, Empirical, Subjective

Answer: (D)

Probabilities can be categorized by how the number is obtained: exactly from a defined model, from observed data, or from personal judgment. Exact probability means you can compute the chance precisely from the rules of the model (for a fair die, each face has probability 1/6). It doesn’t depend on data you’ve collected or on beliefs about the outcome. Empirical probability comes from how often something occurs in repeated observations or experiments. If you roll a die many times and count the results, the ratio of a given outcome approaches the true probability as the number of trials grows. Subjective probability reflects personal belief or degree of confidence about an outcome, used when there isn’t enough data or a precise model to rely on. The set that lists Exact, Empirical, and Subjective matches these three common descriptions. The other groupings mix concepts that aren’t the standard trio described in this context.

Probabilities can be categorized by how the number is obtained: exactly from a defined model, from observed data, or from personal judgment.

Exact probability means you can compute the chance precisely from the rules of the model (for a fair die, each face has probability 1/6). It doesn’t depend on data you’ve collected or on beliefs about the outcome.

Empirical probability comes from how often something occurs in repeated observations or experiments. If you roll a die many times and count the results, the ratio of a given outcome approaches the true probability as the number of trials grows.

Subjective probability reflects personal belief or degree of confidence about an outcome, used when there isn’t enough data or a precise model to rely on.

The set that lists Exact, Empirical, and Subjective matches these three common descriptions. The other groupings mix concepts that aren’t the standard trio described in this context.