Probability Results
Decimal
0
Percentage
0%
Explanation
What is Probability?
Probability is a measure of the likelihood of an event occurring. It is expressed as a number between 0 (impossible) and 1 (certain), or as a percentage between 0% and 100%.
How Are Probabilities Calculated?
Different types of probability calculations: 1. Simple Probability = Favorable Outcomes ÷ Total Possible Outcomes 2. Compound Probability (Independent) = P(A) × P(B) 3. Complement Probability = 1 - P(A)
Common Applications
Statistics
Analyzing data and making predictions
Games
Calculating odds in games of chance
Risk Analysis
Evaluating business and project risks
Science
Predicting experimental outcomes
Tips for Probability Calculations
- Always express probabilities as decimals between 0 and 1
- For independent events, multiply individual probabilities
- Use complement probability for "not happening" scenarios
- Consider whether events are dependent or independent
