The Basics of Event Probability

Concept

Probability

Probability measures the likelihood that something will occur. It can be any value from 0 to 1 or from 0 % to 100 %, inclusive. When it is certain that the situation will not occur, the probability is 0. Likewise, when it is certain that the situation will occur, the probability is 1.

When probability is less than 0.5, the event is unlikely to happen, when probability is equal to 0.5, the event is equally likely to happen or not happen, when probability is greater than 0.5, the event is likely to happen.

The probability of an event occurring can be determined both theoretically and experimentally. Theoretical probability expresses the expected probability when all outcomes in a sample space are equally likely. In comparison, experimental probability is expressed by analyzing data collected from repeated trials of an experiment.

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