Probability and Statistics are important topics when it comes to studying numbers and data. Probability helps us figure out how likely things are to happen, like guessing if it will rain.
Probability can be defined as the ratio of the number of favorable outcomes to the total number of outcomes of an event. For an experiment having 'n' number of outcomes, the number of favorable outcomes can be denoted by x. The formula to calculate the probability of an event is as follows.
Probability is represented by a numerical value between 0 and 1 which describes how likely an event is to happen. A probability of 0 indicates that it is impossible for an event to happen while a probability of 1 means that it is sure to happen. Probability is also often expressed using percentages.
The probability of an event is a number between 0 and 1; the larger the probability, the more likely an event is to occur. [note 1][1][2] This number is often expressed as a percentage (%), ranging from 0% to 100%. A simple example is the tossing of a fair (unbiased) coin.
Probability has its origin in the study of gambling and insurance in the 17th century, and it is now an indispensable tool of both social and natural sciences.
We do that by assigning a number to each event (E) called the probability of that event (P (E)). The probability of an event is a number between 0 and 1 (inclusive). If the probability of an event is 0, then the event is impossible. On the other hand, an event with probability 1 is certain to occur.
Probability has its origin in the study of gambling and insurance in the 17th century, and it is now an indispensable tool of both social and natural sciences.