The carnival is in town, and you want to impress your friend…
The carnival is in town, and you want to impress your friends by playing the “pop a balloon” game. For $1, you throw one dart. If you pop a balloon, you win a prize depending on the color of the balloon; if you don’t pop a balloon, you can play again! Provide your numerical answers to 3 decimal places. a. Using the classical method of probability assignment, define the possible outcomes and provide a numerical probability for each outcome. b. Using the relative frequency or empirical method, what is the probability of popping a YELLOW balloon? c. Using the subjective method, what is the probability of YOU (yes, specifically YOU) popping the PINK balloon in the bottom row to the left, AND WHY that probability?