<P> Probability is the measure of the likelihood that an event will occur . See glossary of probability and statistics . Probability is quantified as a number between 0 and 1 , where , loosely speaking , 0 indicates impossibility and 1 indicates certainty . The higher the probability of an event , the more likely it is that the event will occur . A simple example is the tossing of a fair ( unbiased ) coin . Since the coin is fair , the two outcomes ( `` heads '' and `` tails '' ) are both equally probable ; the probability of `` heads '' equals the probability of `` tails '' ; and since no other outcomes are possible , the probability of either `` heads '' or `` tails '' is 1 / 2 ( which could also be written as 0.5 or 50 % ) . </P>
<P> Probability is the measure of the likelihood that an event will occur . See glossary of probability and statistics . Probability is quantified as a number between 0 and 1 , where , loosely speaking , 0 indicates impossibility and 1 indicates certainty . The higher the probability of an event , the more likely it is that the event will occur . A simple example is the tossing of a fair ( unbiased ) coin . Since the coin is fair , the two outcomes ( `` heads '' and `` tails '' ) are both equally probable ; the probability of `` heads '' equals the probability of `` tails '' ; and since no other outcomes are possible , the probability of either `` heads '' or `` tails '' is 1 / 2 ( which could also be written as 0.5 or 50 % ) . </P>
which term is defined as the chance that a given event will occur
which term is defined as the chance that a given event will occur
Probability
Probability