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":

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... Paulauskas – Probability theory and stochastic processes Vytautas Statulevicius – Probability theory and stochastic processes Donatas Surgailis ...
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... 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 ... of the pool remains the same, so does the probability ...
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... 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) ... is that the random interval (u(X), v(X)) covers the unknown value θ with a high probability no matter what the true value of θ actually is ...
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Probability - Relation To Randomness
... In a deterministic universe, based on Newtonian concepts, there would be no probability if all conditions are known, (Laplace's demon) ... Probability theory is required to describe quantum phenomena ...

Famous quotes containing the word probability:

    Liberty is a blessing so inestimable, that, wherever there appears any probability of recovering it, a nation may willingly run many hazards, and ought not even to repine at the greatest effusion of blood or dissipation of treasure.
    David Hume (1711–1776)

    Crushed to earth and rising again is an author’s gymnastic. Once he fails to struggle to his feet and grab his pen, he will contemplate a fact he should never permit himself to face: that in all probability books have been written, are being written, will be written, better than anything he has done, is doing, or will do.
    Fannie Hurst (1889–1968)

    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)