a) What method of probability assessment is being used by the mining executive? Choose the correct answer below. The probability is a subjective probability since it is based on an estimate of outcomes. The probability is a subjective probability since it is based on observing past outcomes. The probability is an empirical probability since it is based on observing past outcomes. The probability is an empirical probability since it comes from a mathematical model of the number of possible outcomes. The probability is a theoretical probability since it comes from a mathematical model of the number of possible outcomes. napalm? The probability is a theoretical probability since it is based on an estimate of outcomes. b) What method of probability assessment is being used by the oil executive? Choose the correct answer below. The probability is a subjective probability since it is based on an estimate of outcomes. The probability is a subjective probability since it is based on observing past outcomes. The probability is an empirical probability since it comes from a mathematical model of the number of possible outcomes. The probability is a theoretical probability since it comes from a mathematical model of the number of possible outcomes. The probability is an empirical probability since it is based on observing past outcomes. mmpow? The probability is a theoretical probability since it is based on an estimate of outcomes. An oil company executive and an executive of a mining company met during a conference. "They say 30% of the world's undiscovered oil is in the Arctic," started the oil man. "We've dri||ed 64 exploratory wells and all but 10 of them were dry. Only 3 of those 10 are economical with the oil prices being projected for the next 10 years. The good news is that 85% of these projects get environmental approvals." The mining executive replied, "It'sjust as bad in mining. We know where there's uranium, but with the current unpopularity of nuclear power, we estimate the chance of it being protable is less than 9%." Complete parts (a) through (e) below