The word PROBABILITY is used to indicate an unclear possibility that something might happen. It is also used simultaneously with chance.

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Definition of Probability

If an event ‘E’ can happen in ‘m’ ways & fail in ‘k’ ways out of a total of ‘n’ ways, & each of them is equally likely, then the probability of the happening of ‘E’ is .

P(E) = m/(m+k) = m/n, where n = (m+k)

In other words, if a random, experiment is conducted ‘n’ times & ‘m’ of them are favorable to event ‘E’, then