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Tag Archives: sample space


Used for Understanding and Quantifying Randomness.

A probability provides a quantitative description of the likely occurrence of a particular event. Probability is conventionally expressed on a scale from 0 to 1; a rare event has a probability close to 0, a very common event has a probability close to 1.

It is a measure or estimation of likelihood of occurrence of an event

Probability deals with predicting the likelihood of future events, while statistics involves the analysis of the frequency of past events.

Probability is primarily a theoretical branch of mathematics, which studies the consequences of mathematical definitions. Statistics is primarily an applied branch of mathematics, which tries to make sense of observations in the real world.

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