Ohio Assessments for Educators (OAE) Mathematics Practice Exam

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What is objective probability based on?

Personal feelings and judgments
Mathematical formulas and documented evidence
Experimental outcomes
Trends and patterns

The correct answer is: Mathematical formulas and documented evidence

Objective probability is grounded in mathematical principles and empirical data, which means it relies on calculations and documented evidence rather than subjective opinions or feelings. This type of probability seeks to provide a quantifiable measure of the likelihood of an event occurring based on historical data or established mathematical models. It contrasts with subjective probability, which may involve personal beliefs or estimates that are not supported by statistical data. By utilizing mathematical formulas, objective probability calculates the chance of an event based on its actual statistical occurrence in the past or the theoretical model designed to predict its likelihood. This is often seen in fields such as finance, insurance, and science, where precise calculations inform decision-making processes. The other concepts mentioned, such as personal feelings, experimental outcomes, and trends, do not provide a rigorous foundation for determining probability as they are influenced by subjective interpretation or limited data, rather than the comprehensive, formulaic approach that defines objective probability.