Probability
Definition Probability is a measure of the likelihood of an event to occur. Many events cannot be predicted with total certainty. We can predict only the chance of an event to occur i.e., how likely they are going to happen, using it. Probability can range from 0 to 1, where 0 means the event to be an impossible one and 1 indicates a certain event. . The probability of all the events in a sample space adds up to 1. Formula for Probability The probability formula is defined as the possibility of an event to happen is equal to the ratio of the number of favourable outcomes and the total number of outcomes Probability of event to happen P(E) = Number of favourable outcomes/Total Number of outcomes . Types of Probability There are three major types of probabilities: Theoretical Probability Experimental Probability Axiomatic Probability Theoretical Probability It is based on the possible chances of something to happen. The theoretical probability is mainly based on the reasoning behind