Describing Risk a Interpreting Probability Subiective Based on perception or experience with or without an observed frequency Different information or different abilities to process the same information can influence the subjective probability Chapter 5 Slide 7Chapter 5 Slide 7 Describing Risk ◼ Interpreting Probability ⚫ Subjective ◆Based on perception or experience with or without an observed frequency ⚫ Different information or different abilities to process the same information can influence the subjective probability