probability

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Related to Probability calculus: probability density

Probability

The relative likelihood of a particular outcome among all possible outcomes.

probability

the likelihood of a particular uncertain event occurring, measured on a scale from 0.0 (such an event is impossible) to 1.0 (such an event is certain to occur). People generally estimate probabilities on the basis of the relative frequency with which an event has occurred in the past, under given circumstances, and generalize from this past experience. In some circumstances it is easy to estimate the proportion of occasions on which an event occurs; for example, the probability of getting ‘heads’ when flipping a balanced coin is 0.5 because with such a coin in the long run we would get 50% ‘heads’ and 50% ‘tails’. In estimating probabilities in business situations, though, there may be no or only a few previous experiences that can be used to gauge the relative frequency of an event occurring. See also RISK AND UNCERTAINTY.
References in periodicals archive ?
In essence, fuzzy logic says only that we should account for the undeniable imprecision of the world by altering the system's operators, rather than by some awkward afterthought squeezed into the probability calculus.
The most difficult of such interludes in the book come in the philosophical and logical arguments for theism which precede the discussion of Christ's teaching, Passion, and Resurrection and also in an appendix concerned with probability calculus and interspersed with mathematical formulae.
The union of de Broglie's wave mechanics and of Born's wavelike probability calculus gives birth to a spacetime telegraph transmitting causation by means of information.