long-term frequency
a definite value that we rarely know with certainty
Subjective usage
strength of belief
Model
a simplified
description of a
mechanism
Subjective probability
opinion not based on data
used to construct a model
Probabilities are
always contingent
on …
assumptions
i.e. models
Probability
start with a general case such as a
population or a model and use that
understanding to make predictions for samples
-Deductive Reasoning
Statistics
use samples to make inferences about
the overall population or model.
-Inductive Reasoning