"At a purely formal level, one could call probability theory the study of measure spaces with total measure one, but that would be like calling number theory the study of strings of digits which terminate."
Probability concerns events and numerical descriptions of how likely they are to occur. The probability of an event is a number between 0 and 1; the larger the probability, the more likely an event is to occur. This number is often expressed as a percentage (%), ranging from 0% to 100%. A simple example is the tossing of a fair (unbiased) coin. Since the coin is fair, the two outcomes are both equ
"The laws of probability are mighty powerful, and they never sleep. If this were more widely understood there’d be a lot less crowing about good luck, and a lot less guilt about bad luck. And we’d have a more civilized world. Some things really do happen by chance, and there is little we can do to change that."
Probability"Al right. I already see you turning off. I can see you say you dont understand me. You cant understand that it could be chance. "I dont like it!" Tough! I dont like it either, but thats the way it is! Ok? I dont understand it either. ..."It must be that Nature knows that its going to go up or down." No, it must not be that nature knows! We are not to tell Nature what shes gotta be! Thats what we found out. Every time we take a guess as how shes got to be, and go and measure... Shes clever. Shes always got better imagination than we have, and she finds a cleverer way to do it than we have thought of. And in this particular case, the clever way to do it is by probability, by odds. ...[L]ight works by probability."
Probability"Feeling threatened is not the same as being threatened, but the difference gets lost. The danger from low levels of radiation is quite low, as expressed as morbidity statistics or probabilities, but there is an unfortunate lack of connection to probability in the average person. Low probabilities are a particular problem of perception. If they were not, then nobody would play the lottery and the gambling industry would collapse."
Probability"There is no Algebraist nor Mathematician so expert in his science, as to place entire confidence in any truth immediately upon his discovery of it, or regard it as any thing, but a mere probability. Every time he runs over his proofs, his confidence increases; but still more by the approbation of his friends; and is raised to its utmost perfection by the universal assent and applauses of the learned world."
Probability"The epistemological value of probability theory is based on the fact that chance phenomena, considered collectively and on a grand scale, create non-random regularity."
Probability"Probability is the very guide of life."
Probability