Reasoning Flashcards
1
Q
How do frequentists view probabilities?
A
Long-run frequencies
Not meaningful to assign probabilities to one-off events for which their are no long-term frequencies
2
Q
How do Bayesians view probabilities?
A
Statements about state of knowledge or beliefs
Probabilities should be updated in light of new evidence or data
3
Q
What is availability heuristic?
A
How ease of something coming to mind affects prediction of probability
