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 PEvent 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 (nFavorable) & Total Number of Outcomes (nTotal) and hit the calculate button. Here is how the Probability of Event calculation can be explained with given input values -> 0.3 = 3/10.