Probability Basic Concepts Expanded
Probability Basic Concepts Expanded
Probability is the branch of mathematics that deals with the likelihood or chance of different
- Probability is the measure of how likely an event is to happen. It ranges from 0 to 1, where 0
- Events can be independent (the outcome of one does not affect the other) or dependent (the
There are 2 possible outcomes (heads or tails), and 1 favorable outcome (heads). Probability =
1/2.
There are 6 possible outcomes (1, 2, 3, 4, 5, 6), and 1 favorable outcome (rolling a 6). Probability
= 1/6.
There are 36 possible outcomes when rolling two dice, and 6 favorable outcomes that sum to 7
(1+6, 2+5, 3+4, 4+3, 5+2, 6+1). Probability = 6/36 = 1/6.
- Probability is used in weather forecasting to predict the likelihood of rain, storms, or other events.
- Probability is used in games of chance like lotteries, poker, or sports betting to determine odds.
- Businesses use probability to make decisions about risk and to calculate the chances of success