Basic Probability

Basic Probability

1. A probability is a number that reflects the chance or likelihood that a particular event will occur. Probabilities can be expressed as proportions that range from 0 to 1, and they can also be expressed as percentages ranging from 0% to 100%.

2. Probability line

   • Impossible
     • It is impossible when the possibility is of 0%
   • Unlikely
     • It is unlikely when the possibility is under 50%
   • As likely as not
     • It is likely as not when the probability is 50% to impossible and 50% to certain
   • Certain
     • It is certain when the possibility is of 100%
   • Likely
     • Is likely when it is more than 50%