What is Probability?
In Mathematics, Probability theory is the study of chances. In real life, we predict chances depending on the situation. But Probability theory is bringing a mathematical foundation for the concept of Probability. For example, if a box contain 10 balls which include 7 black balls and 3 red balls and randomly chosen one ball. Then the Probability of getting red ball is 3/10 and Probability of getting black ball is 7/10. When coming to statistics, Probability is like the back bone of statistics. It has a wide application in decision making, data science, business trend studies, etc.
How to Calculate Probability of Event?
Probability of Event calculator uses Probability of Event = Number of Favorable Outcomes/Total Number of Outcomes to calculate the Probability of Event, Probability of Event formula is defined as the likelihood that the event will occur. Probability of Event is denoted by P_{Event} symbol.
How to calculate Probability of Event using this online calculator? To use this online calculator for Probability of Event, enter Number of Favorable Outcomes (n_{Favorable}) & Total Number of Outcomes (n_{Total}) and hit the calculate button. Here is how the Probability of Event calculation can be explained with given input values -> 0.3 = 3/10.