Objective Probability
Categories: Metrics
An objective probability is a probability whose value is based off of actual measurements or historical data but not necessarily exactly the experimental probability calculated from those measurements. Let’s say that when we play a game on our smartphone, we win 31 times out of 100. Then we play another 100 games and win 36 times. Another 100 games played yields 29 wins. We might infer that the objective probability of winning is about 33% or one in three. It’s not the exact percentage of winning from all 300 games, but it’s what we expect the probability to be based on actual historical results.