Distinguish between frequentist and subjective approaches?
Distinguish between frequentist and subjective approaches?
1. The frequentist approach is the statistical tool that is used to determine the conclusions from large data frequency
Subjective approach is used to deal with the perception and the individual thoughts of the individual that is considered in the investment of the decision making.
2 The frequentist approach is best suited for the hypothetical testing that makes the optimal decision making possible.
The subjective do give the option of hypothetical testing as the major statistical tools are absent in it.
3. Consider that the probabilities are related with the frequentist approach therefore it is easy to derive the efficient in a specific time period.
In case of some circumstances the probability is linked with the subjective approach that helps to find the personal judgements.
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