Definition: The state of being probable; likelihood.

Alright class, settle down now, let’s take a look today, At something called ‘probability,’ in a lovely, clear way! The dictionary’s right, you see, it gives us the gist – “The state of being probable,” a helpful little tryst. But let's break that down, with a rhyme or two, To really understand what probability can do. Probability is all about chance, you know, How likely something is to happen, to and fro! Think about flipping a coin, bright and bold, It’s fifty-fifty, a story often told! There's a chance it lands on heads, a hopeful plea, But there's an equal chance for tails, you agree? We measure this chance with numbers, don't you see? From zero to one, that’s the scale we decree. Zero means impossible, it simply won't be, One means certain, guaranteed for you and me! Numbers in between show how likely a thing is, Like rolling a dice – a six has a good risk! So probability is about likelihood , that’s the key, How often something happens, for all to see. Do you have any questions? Let's discuss and explore, Probability's a fascinating topic, I implore!

Definition: Probability is a mathematical concept in statistics that describes how likely it is to occur an event when several independent trials are performed. It quantifies the likelihood of any single outcome occurring by dividing the number of favorable outcomes by the total number of possible outcomes. In simple terms, probability means "the chance or likelihood of something happening," and it's often expressed as a fraction between zero and one. The more likely an event is, the higher its probability. Probabilities are typically represented in decimal form, where 1 represents certainty (a) and 0 represents absolute impossibility (an extreme probability). For example, if you flip a coin two times, there is only 50% chance of getting heads or tails both times. This can be calculated as P(heads) + P(tails). In contrast, probabilities are not directly measurable in the same way that a standard deviation represents uncertainty. Probability theory studies probability and its applications to statistical inference and decision making. It's widely used in fields such as finance, genetics, computer science, and physics. When discussing probabilities, it's important to note that there can be multiple possible outcomes (for example, heads or tails), so the number of favorable outcomes must also be counted. In summary, probability is a measure of the likelihood that an event will occur based on repeated trials. It uses decimal numbers to describe the chance of each outcome and can be used in statistical analysis to make decisions about risk and decision-making.

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