Reasoning

Question 1

How do frequentists view probabilities?

Answer 1

Long-run frequencies

Not meaningful to assign probabilities to one-off events for which their are no long-term frequencies

Question 2

How do Bayesians view probabilities?

Answer 2

Statements about state of knowledge or beliefs

Probabilities should be updated in light of new evidence or data

Question 3

What is availability heuristic?

Answer 3

How ease of something coming to mind affects prediction of probability