- #106
Ken G
Gold Member
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I can either win the lottery, or I can not win. There is also "two sides" to that issue. If I have no idea what my chances of winning are, shall I use that as a reason to conclude my chances are 50-50 in lieu of new information? Or shall I simply say I have no idea what the chances are, and the fact that there are only two possibilities gives me no help whatsoever, because I have no reasonable basis for using that information?granpa said:But on what basis do you say that it is equally likely?
on the basis that there are 2 sides. if you knew nothing else about it you would still expect to be able to predict the outcome 50% of the time just by choosing at random.
Call it what you like, but it still doesn't mean much of anything.so its called the bayesian probability.