Key Concepts of Probability

Likelihood: Probability quantifies the chance of something happening.

Scale: The scale ranges from 0 (an event will never happen) to 1 (an event is certain to happen).

Percentage: The value can also be expressed as a percentage, where 0% means impossible and 100% means certain.

How to Calculate Probability

The basic formula for probability is:

Probability of an event = (Number of favorable outcomes) / (Total number of outcomes)

Examples

Coin Flip:

The probability of getting heads when flipping a coin is 1/2 (or 50%), as there is one favorable outcome (heads) and two total possible outcomes (heads or tails).

Dice Roll:

The probability of rolling a specific number, like a 3, on a six-sided die is 1/6, because there is one favorable outcome (rolling a 3) and six total possible outcomes (1, 2, 3, 4, 5, 6).