In addition to axiomatic approach, we discussed different interpretations of the probability statements as follows: Classical approach: The ratio of desired outcomes to all possible outcomes. Relative frequency approach: The relative frequency an event is observed if the experiment is repeated many times. Subjective approach: when it is difficult to imagine a repetition of an experiment and individual uses a personal probability to make a one-shot statement of belief regarding the likelihood of the occurrence of the event. Indicate which interpretation of the probability statement seems most appropriate:

a. A casino in New Jersey posts a probability of 0.02 that the Dallas Cowboy will win Super Bowl.

b. A purchaser of a single ticket in the Texas Powerball has a probability of 1/175,223,510 of winning the big payout.

c. The quality control engineer of a large pharmaceutical firm conducts an intensive process reliability study. Based on the findings of the study, the engineer claims that the probability that a bottle of a newly produced drug will have a half-life greater than 2 years is 0.952.

d. The probability that the control computer on a nuclear power plant and its backup will both fail is 0.00001.