The probability of a given event is an expression of likelihood of occurrence of an event. A probability is a number which ranges from 0 (zero) to 1 (one) – zero for an event which cannot occur and 1 for an event which is certain to occur.

The word ‘probability’  or  ‘chance’ is very commonly used in day to day conversation and generally people have a rough idea about its meaning. Probability today has become one of the basic tools of statistics. In fact probability and statistics are so fundamentally inter-related that it is difficult to discuss statistics without an understanding the meaning of probability. A knowledge of probability theory makes it possible to interpret statistical results, since many statistical procedures involve conclusions based on samples which are always affected by random variation, and it is by means of probability theory that we can express numerically the inevitable uncertainties in the resulting conclusions.

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