A regression model of subjective probability?

The present study was conducted to examine if the cognitive representation of subjective probability could be better objectified. Subjects were required to play a commercial slot machine and afterwards make an estimation as to the machine's percentage of payback. A linear regression analysis indicated that such a subjective probability estimation is developed by a combination of the number of coins played, the number of coins won, and the number of winning games. These findings suggest that examining such environmental variables may provide an explanation for the development of subjective probabilities.