Probability Formula
- This formula is used to calculate the probability of an event to occur. Suppose an event E is happening and the Probability of happening the event E is P(E) then,
P(E) = (Favourable Outcomes)/(Total Outcomes)
Note: The value of probability ranges from 0 to 1.
- Suppose the probability of happening an event is P(E) and the probability of non-occurring that event is, P([Tex]\overline{E} [/Tex]). The formula used to calculate the probability of a non-occurrence of an event is,
[Tex]P(\overline{E}) [/Tex] = 1 – P(E)
Here, [Tex]P(\overline{E})[/Tex] is a probability of a non-occurring event E. It is also known as the complement of an event E.
Chance and Probability
Chance is defined as the natural occurrence of any event without any interference, we can also say that the possibility of any event is the chance of the event, and mathematically we define the chance as the probability of an event.
Probability refers to the likelihood of the occurrence of an event. The event may or may not occur. For example, we have some of the real-life statements which we hear in our daily lives:
- My uncle may visit us today
- There is a good chance that it may rain tomorrow
- The school may probably take us to a picnic in June
- Schools may reopen in March
These daily life statements use terms like ‘probable’, ‘may’, ‘has a good chance’, ‘likely’ etc., so it is clear that there is no surety of occurrence, it may occur, or it may not occur, so this is called chance. In other words, a chance is a possibility of something happening. And in mathematics, probability is known as chance. Chance and Probability is an important topic for Class 7 and Class 8 students.
In this article, we will learn about, Chance, Probability, Formula of Probability, and others in detail. The concepts of probability are frequently used in Statistics, engineering, data science, and hypothesis testing.