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True probabilities refer to the theoretical likelihood or chance of an event occurring, based on all possible outcomes and conditions.
Observed probabilities are based on actual data and outcomes, while true probabilities are based on all possible outcomes and conditions, including those that have not yet been observed.
True probabilities are calculated using mathematical formulas and principles, such as the law of large numbers and Bayes' theorem, based on all possible outcomes and conditions.
Yes, as new data and information become available, the true probabilities of an event or outcome may change. This is known as updating probabilities.
True probabilities are used in various fields of science, such as statistics, physics, and biology, to make predictions, test hypotheses, and analyze data. They are also used to assess risk and make informed decisions.