Prince Windows, Inc. makes high-quality windows for the residential home market. Recently, three marketing managers were asked to assess the probability that sales for next year will be more than 15% higher than the current year. One manager stated that the probability of this happening was 0.40. The second manager assessed the probability to be 0.60, and the third manager stated the probability to be 0.90.
a. What method of probability assessment are the three managers using?
b. Which manager is expressing the least uncertainty in the probability assessment?
c. Why is it that the three managers did not provide the same probability assessment?