Probability is the measure of the likelihood of an event occurring. It is represented as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
To calculate probability, you divide the number of favorable outcomes by the total number of possible outcomes. This can be represented as P(event) = favorable outcomes / total outcomes.
Theoretical probability is based on mathematical calculations and assumes equal likelihood of all possible outcomes. Experimental probability is based on actual outcomes from an experiment or trial, and can vary depending on the number of trials conducted.
Probability is used in many fields, including science, economics, and statistics. It can help predict outcomes and make informed decisions. For example, in medicine, probability can be used to assess the effectiveness of a treatment. In finance, probability can be used to make investment decisions.
No, probability cannot be greater than 1 or less than 0. A probability of 0 means the event is impossible and a probability of 1 means the event is certain. Any number outside of this range does not make sense in the context of probability.