Problem
1. Explain in your own words the idea of subjective probability.
2. Explain in your own words the difference between assessing the probability for a discrete event and assessing a probability distribution for a continuous unknown quantity
3. Suppose your father asked you to assess the probability that you would pass your decision-analysis course. How might you decompose this probability assessment? Draw an influence diagram to represent the decomposition.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.