1.2 Interpreting Probability

To understand the various interpretations of probability, let’s start with a few common examples. Consider the simple act of rolling a fair die, where we intuitively understand that each number has an equal chance of landing face up. Likewise, as we traverse our regular commute frequently, we form a reasonably accurate probability of arriving on time or getting delayed on any given day. Furthermore, our subjective beliefs come into play when we …