Probability means chances of occurrence of events.
It is the most crucial mathematical concepts that we encounter in our day-to-day life.
Let's see a simple and familiar example to understand this concept better.
If you toss a coin, if the call is head, then the exact tow possible outcomes are, a head or a tail, and one is favorable to the caller. Then the probability of his success ratio is \(1\)\(/\)\(2\).
So now we understood that probability means the chance of the events may or may not happen.
Concerning the situations, probability also differs. It may happen or may not happen, or something impossible to happen, and some are certain to happen.
Let us see another example. Those below statement explains the kinds of probability.
|We are getting old on each day.||Certain to happen.|
|It may rain today.||May or may not happen.|
|Sunrises from the West.||Impossible to happen.|
|Head will come if you toss a coin.||Possible to happen.|
|India was definitely going to win this match.||India may win or lose.|
Values of probability:
Probabilities can be expressed in terms of fractions, decimals or percent.
The values of probability range from \(0\) to \(1\).
If the particular event is certain to happen then that probability will be \(1\).
If the event is cannot possible to occur then the probability for that event is \(0\).
Now in this chapter, we are going to see only on the experimental approach to probability, that the probability of an event is based on what has happened.