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# Probability

The word ‚Äòprobability‚Äô or ‚Äòchance‚Äô is very commonly used in day-to-day conversation and generally people have a rough idea about its meaning.

Probability

The word ‚Äòprobability‚Äô or ‚Äòchance‚Äô is very commonly used in day-to-day conversation and generally people have a rough idea about its meaning. For example, we come across statements like

‚ÄúProbably it may rain tomorrow‚Äù;

‚ÄúThe chances of teams A and B winning a certain match are equal‚Äù;

All these terms ‚Äì possible, probable, etc., convey the same sense, i.e., the event is not certain to take place or, in other words, there is uncertainty about happening of the event in question. In Layman‚Äôs terminology the word ‚ÄòProbability‚Äô thus can notes that there is uncertainty about what has happened. However, in mathematics and statistics we try to present conditions under which we can make sensible numerical statements about uncertainty and apply certain methods of calculating numerical values of probabilities.

Galileo (1564-1642), an Italian mathematician, was the first man to attempt quantitative measure of probability while dealing with some problems related to the theory of dice in gambling. The figure given below represents the basic concepts of probability. Tags : Maths , 11th Business Mathematics and Statistics(EMS) : Chapter 8 : Descriptive statistics and probability
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11th Business Mathematics and Statistics(EMS) : Chapter 8 : Descriptive statistics and probability : Probability | Maths