Objective and Subjective Probabilities

Generally speaking, there are two types of probabilities, objective and subjective:

  • Objective probabilities that can be estimated from proportions, based on data collected. For instance, P(Q), or for instance, the probability that a retail store is handling the brand Coca-Cola.
  • Subjective probabilities that cannot be estimated from long-run proportions. For example, an applicant feels she has a 50% chance of getting a job. This is her opinion, and it is subjective.
Previous     Next

Use the Search Bar to find content on MarketingMind.







Marketing Analytics Workshop

Marketing Analytics Workshop

In an analytics-driven business environment, this analytics-centred consumer marketing workshop is tailored to the needs of consumer analysts, marketing researchers, brand managers, category managers and seasoned marketing and retailing professionals.


What they SHOULD TEACH at Business Schools

What they SHOULD TEACH at Business Schools


Is marketing education fluffy too?


Experiential Learning via Simulators | Best Way to Train Marketers

Experiential Learning via Simulators | Best Way to Train Marketers


Marketing simulators impart much needed combat experiences, equipping practitioners with the skills to succeed in the consumer market battleground. They combine theory with practice, linking the classroom with the consumer marketplace.