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 Probability: Interpretations, Etymology, History, Theory, Applications, Mathematical Treatment, Relation To Randomness
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)
“Legends of prediction are common throughout the whole Household of Man. Gods speak, spirits speak, computers speak. Oracular ambiguity or statistical probability provides loopholes, and discrepancies are expunged by Faith.”
—Ursula K. Le Guin (b. 1929)
“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)