Probability is a measure of the likelihood or chance that a particular event will occur. It is a numerical value between 0 and 1, where 0 represents an impossible event and 1 represents a certain or guaranteed event.
In probability theory, the probability of event A is denoted as P(A) and is calculated by dividing the number of favorable outcomes for event A by the total number of possible outcomes in the sample space.
The probability formula is:
P(A) = Number of favorable outcomes / Total number of possible outcomes
Probability can also be expressed as a fraction, decimal, or percentage.
For example, if you have a standard six-sided die and you want to calculate the probability of rolling a 4, there is only one favorable outcome (rolling a 4) out of six possible outcomes (numbers 1 to 6). Therefore, the probability of hitting a 4 is 1/6 or approximately 0.1667 (16.67%).
Probability allows us to quantify uncertainty and make predictions based on the likelihood of different outcomes. It is a fundamental concept in various fields such as mathematics, statistics, physics, economics, and more.