Probability
- Quantifies how likely an event is to occur using a number between 0 (impossible) and 1 (certain).
- Commonly expressed as a fraction or a percentage (for example, 1/2 or 50%).
- Calculated as the number of desired outcomes divided by the total number of outcomes.
Definition
Section titled “Definition”Probability is a branch of mathematics that deals with the likelihood of events occurring. It is expressed as a number between 0 and 1, with 0 indicating that an event is impossible and 1 indicating that it is certain to happen.
Explanation
Section titled “Explanation”Probability measures the chances of specific outcomes within a given situation. It can be represented as a fraction, a percentage, or a decimal. The basic computation of probability uses the ratio of the number of desired outcomes to the total number of possible outcomes:
Values close to 0 indicate low likelihood, while values close to 1 indicate high likelihood. Probability can be affected by conditions such as a weighted coin or the characteristics of the randomizing device.
Examples
Section titled “Examples”Flipping a coin
Section titled “Flipping a coin”When flipping a coin, there are two possible outcomes: heads or tails. The probability of getting heads is 1/2, or 50%. This means that if you flip a coin 100 times, you can expect to get heads 50 times and tails 50 times.
Using the formula:
Rolling a die
Section titled “Rolling a die”When rolling a die, there are six possible outcomes: 1, 2, 3, 4, 5, or 6. The probability of rolling a 4 is 1/6, or 16.67%. This means that if you roll a die 100 times, you can expect to roll a 4 about 16 times.
Using the formula:
Use cases
Section titled “Use cases”- Finance: to model and quantify risk and uncertain outcomes.
- Biology: to describe chances of events, such as genetic traits or experimental results.
- Sports: to estimate the likelihood of outcomes and inform decisions.
Notes or pitfalls
Section titled “Notes or pitfalls”- Probability can change if the underlying conditions change (for example, if a coin is weighted).
- The behavior of the randomizing device (type of die, how it is rolled) can affect observed probabilities.
- Repeated trials (for example, many coin flips or die rolls) lead to expected frequencies (e.g., expecting 50 heads in 100 coin flips) but individual sequences may differ.
Related terms
Section titled “Related terms”- Event
- Outcome
- Fraction
- Percentage