Probability is a measure of the expectation that an event will occur or a statement is true. Probabilities are given a value between 0 (will not occur) and 1 (will occur). The higher the probability of an event, the more certain we are that the event will occur.

The concept has been given an axiomatic mathematical derivation in probability theory, which is used widely in such areas of study as mathematics, statistics, finance, gambling, science, artificial intelligence/machine learning 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 systems.

Read more about ProbabilityInterpretations, Etymology, History, Theory, Applications, Mathematical Treatment, Relation To Randomness

Other articles related to "probability":

Probability - Relation To Randomness
... on Newtonian concepts, there would be no probability if all conditions are known, (Laplace's demon) ... Probability theory is required to describe quantum phenomena ...
Triangular Distribution
... In probability theory and statistics, the triangular distribution is a continuous probability distribution with lower limit a, upper limit b and mode c, where a < b and a ... The probability density function is given by whose cases avoid division by zero if c = a or c = b ...
Marilyn Vos Savant - Errors in The Column
... Obviously, the probability of an employee being chosen in one quarter is 25 percent ... Marilyn's response was The probability remains 25 percent, despite the repeated testing ... long as the size of the pool remains the same, so does the probability ...
Confidence Interval - Statistical Theory - Definition
... Let X be a random sample from a probability distribution with statistical parameters θ, which is a quantity to be estimated, and φ, representing quantities that are not of immediate interest ... Here Prθ,φ indicates the probability distribution of X characterised by (θ, φ) ... v(X)) covers the unknown value θ with a high probability no matter what the true value of θ actually is ...

Famous quotes containing the word probability:

    The probability of learning something unusual from a newspaper is far greater than that of experiencing it; in other words, it is in the realm of the abstract that the more important things happen in these times, and it is the unimportant that happens in real life.
    Robert Musil (1880–1942)

    Only in Britain could it be thought a defect to be “too clever by half.” The probability is that too many people are too stupid by three-quarters.
    John Major (b. 1943)

    The source of Pyrrhonism comes from failing to distinguish between a demonstration, a proof and a probability. A demonstration supposes that the contradictory idea is impossible; a proof of fact is where all the reasons lead to belief, without there being any pretext for doubt; a probability is where the reasons for belief are stronger than those for doubting.
    Andrew Michael Ramsay (1686–1743)