A method of assigning probabilities based upon judgment is referred to as the

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Social Studies

13 August, 01:22

A method of assigning probabilities based upon judgment is referred to as the

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Mercle · Answer 1

Answer: Subjective Method

Explanation: Assigned probability based on judgement or assertion is termed as Subjective. Subjective probability relies on an individual's personal perception or idea that an event will occur or otherwise. Subjective probability isn't based no any thorough research, scientific finding or market analysis, It is purely based on individual judgement and therefore it differs from one individual to another.

For instance, if an individual opines that it will rain tomorrow without accessing weather or any related information, then it's a subjective judgement.