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In simple terms, Probability is defined as the chances of occurring a certain event.
This is particularly true when we are not entirely sure about the outcomes. The events are uncertain hence they can be tough to calculate. This is particularly a field of statistics and analysis.
The formula for calculating the probability :
Probability of any given event = ( likely to happen) / (total number of outcomes)
Let’s take an example to understand.
We are taking an unbiased coin here.
Hence, we are likely to get heads or tails.
Therefore the head and tails have the same possibility of falling which is 5050. So here probability is used to represent it mathematically.
Probability of a coin landing on heads
P(A) = 1/2
Taking another example now:
If we roll unbiased dice, what’s the probability of rolling a three?
Total outcomes = 6
Likely to happen= 1
Using the formula above:
P(A)= 1/6
Some important points that must be noted while dealing with probability problems:
1. The probability of an event can only be between any value between 0
2. It can also be mentioned as a percentage
Random Variable
In the field of probability and subject statistics, random variables are used to measure the outcomes of a random event. Hence, they are likely to take any values. They are used particularly in case there is a requirement to measure real number values. For example, the letter X may be assigned to describe the total of numbers after two dice are rolled. In this case, X could be 1 + 1 = 2, 6 + 6 = 12. Because the highest dice value is 6 and the lowest one is 5.
All random variables are diverse than any algebraical values.