Statistics and Probability Dictionary
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The probability of an event is
a measure of the likelihood that the event will occur. Statisticians have
agreed on the following rules and conventions.
The probability of any event can range from 0 to 1.
The sum of probabilities of all
is equal to 1.
The probability of event A is the sum of the probabilities of all the sample
points in event A.
The probability of event A is denoted by P(A).
Thus, if event A were very unlikely to occur, then P(A) would be close to 0. And
if event A were very likely to occur, then P(A) would be close to 1.