video probability "Basic Probability"

INTRODUCTION PROBABLITY

WHAT IS PROBABILITY???

Probability is the measure of the likelihood that an event will occur. Probability is quantified as a number between 0 and 1 (where 0 indicates impossibility and 1 indicates certainty).The higher the probability of an event, the more certain we are that the event will occur. A simple example is the tossing of a fair (unbiased) coin. Since the coin is unbiased, the two outcomes ("head" and "tail") are equally probable; the probability of "head" equals the probability of "tail." Since no other outcome is possible, the probability is 1/2 (or 50%) of either "head" or "tail". In other words, the probability of "head" is 1 out of 2 outcomes and the probability of "tail" is also, 1 out of 2 outcomes, expressed as 0.5 using the above mentioned quantification system.