Karl Jones: Created page with "'''Probability''' is the measure of the likelihood that an event will occur. == Description == Probability is quantified as a number between 0 and 1 (where 0 indicates impos..."

2016-08-23T14:42:22Z

Created page with "'''Probability''' is the measure of the likelihood that an event will occur. == Description == Probability is quantified as a number between 0 and 1 (where 0 indicates impos..."

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'''Probability''' is the measure of the likelihood that an event will occur.

== Description ==

Probability is quantified as a number between 0 and 1 (where 0 indicates impossibility[2] and 1 indicates certainty).

The higher the probability of an event, the more certain that the event will occur.

A simple example is the tossing of a fair (unbiased) coin. Since the coin is unbiased, the two outcomes ("head" and "tail") are both equally probable; the probability of "head" equals the probability of "tail." Since no other outcomes are possible, the probability is 1/2 (or 50%), of either "head" or "tail". In other words, the probability of "head" is 1 out of 2 outcomes and the probability of "tail" is also 1 out of 2 outcomes, expressed as 0.5 when converted to decimal, with the above-mentioned quantification system. This type of probability is also called a priori probability.

These concepts have been given an axiomatic mathematical formalization in probability theory, which is used widely in such areas of study as [[mathematics]], [[statistics]], finance, [[gambling]], science (in particular [[physics]]), [[artificial intelligence]], [[machine learning]], [[computer science]], [[game theory]], and [[philosophy]] to, for example, draw inferences about the expected frequency of events.

Probability theory is also used to describe the underlying mechanics and regularities of [[Complex system|complex systems]].

== See also ==

* [[Chance (disambiguation)]]
* [[Class membership probabilities]]
* [[Equiprobability]]
* [[Heuristics in judgment and decision-making]]
* [[Probability theory]]
* [[Statistics]]
* [[Estimators]]
* [[Estimation Theory]]
* [[Probability density function]]

== External links ==

* [https://en.wikipedia.org/wiki/Probability Probability] @ Wikipedia

[[Category:Mathematics]]

Probability - Revision history

Karl Jones: Created page with "'''Probability''' is the measure of the likelihood that an event will occur. == Description == Probability is quantified as a number between 0 and 1 (where 0 indicates impos..."