The long-run relative frequency of an event based on the assumption of an infinite number of observations with no change in the underlying conditions is called
A. objective probability.
B. objective risk.
C. subjective probability.
D. subjective risk.
Answer:A
The long-run relative frequency of an event based on the assumption of an infinite number of observations with no change in the underlying conditions is called
A. objective probability. B. objective risk. C. subjective probability. D. subjective risk.