What does 'arbitrary' mean?
The dictionary defines it as 'based on random choice or personal whim, rather than any reason or system', like 'an arbitrary decision'.
Is 'arbitrary' both subjective and random? How is it different from subjective or random?

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There is a negative quality about an "arbitrary" decision.  Normally, they are made by judges, referees, public bodies etc.  These are people and institutions who we expect to make reasoned and balanced decisions, and not ones based on feelings, or spontaneous thoughts.