Probability

Probability is the likelihood or chance that something is the case or will happen. Probability theory is used extensively in areas such as statistics, mathematics, science and philosophy to draw conclusions about the likelihood of potential events and the underlying mechanics of complex systems. The term \ probability\ does not have a consistent direct definition. Actually, there are two broad categories of probability interpretations: Frequentists talk about probabilities only when dealing with well defined random experiments. The relative frequency of occurrence of an experiment's outcome, when repeating the experiment, is a measure of the probability of that random event. Bayesians, however, assign probabilities to any statement whatsoever, even when no random process is involved, as a way to represent its subjective plausibility.

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