4. Probability
Basic Concepts of Probability
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Which of the following is one of the two broad categories of probability?
A
Predictive probability
B
Inferential probability
C
Classical probability
D
Descriptive probability
Verified step by step guidance1
Step 1: Understand the concept of probability categories. Probability is broadly categorized into two main types: Classical probability and Empirical probability. Classical probability is based on theoretical reasoning, while Empirical probability is based on observed data.
Step 2: Define Classical probability. Classical probability assumes that all outcomes in a sample space are equally likely. It is calculated using the formula: P(E) = (Number of favorable outcomes) / (Total number of possible outcomes).
Step 3: Compare Classical probability with other terms mentioned in the problem. Predictive probability and Inferential probability are not standard categories of probability. Descriptive probability is also not a recognized category in probability theory.
Step 4: Recognize that Classical probability is one of the two broad categories of probability. The other category is Empirical probability, which is based on experimental or observed data.
Step 5: Conclude that the correct answer is Classical probability, as it is one of the two recognized broad categories of probability.
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