This raises an issue: what about betting on the last digit of the 3^^^3′th prime?
This is a go to example here of using subjective probability under resource constraints. There are plenty of more familiar examples, such as having to answer a multiple-choice question on a test in 30 seconds, and having to estimate the probabilities of each answer in order to pick the likeliest. Everyone has done it, and used the basically the same tools as for the so-called “true” probabilities.
This is a go to example here of using subjective probability under resource constraints. There are plenty of more familiar examples, such as having to answer a multiple-choice question on a test in 30 seconds, and having to estimate the probabilities of each answer in order to pick the likeliest. Everyone has done it, and used the basically the same tools as for the so-called “true” probabilities.