Statistics help Subjective Probability

[Calculator14]

Homework Statement

(T/F) Subjective probability based on intuition and experience has little use in the real world.

Homework Equations

(no equations needed for it is T/F)

The Attempt at a Solution

I believe this is False because subject probability is probability derived from an individual's personal judgment about whether a specific outcome is likely to occur

 

[NascentOxygen]

It's a very broad question. Maybe the teacher just wants to see whether you have given the question some thought.

The probability of discovering an edible nut under any random tree in a forest is low. (You learn that by experience.) But should you, by chance, discover a nut on the ground under a tree, then the probability of finding a second (and a third ...) under that same tree is so high as to make it worth your time and effort to search around quite painstakingly.

So, with that in mind, I would conclude that probability can prove very useful. (A really dumb animal would stop and eat the nut it almost walked on, but then blunder on in the direction is was headed and not stay and search around further.)