Which of the following statements are valid?

• Statement 1: Data were gathered on the movement of dividend policies of stocks comprising the S&P 500 from 1970 to 2013. During this time frame, there were 19,370 instances of chances of dividend either up or down with 3,680 instances of a down movement. This equates to 19% probability of a down movement. This illustrates an empirical probability.
• Statement 2: When one uses his personal judgment to create probabilities, a subjective probability is created. On the other hand, priori and empirical probabilities are nonsubjective methods of creating probabilities.

Group of answer choices

B. Statement 1 is valid.

B. Statements 1 and 2 are valid.

C. Statement 2 is valid.