Eg. If we are tossing a coin we can enumerate the possible outcomes. The outcomes are either head or tail, There is an uncertainty. They may or may not be happen. The value of Probability lies between 0 and 1
The probability ‘0’ means something can never happen. Probability ‘1’ mean s something can happen
Consider a random experiment . Let ‘A’ be an event; Let the experiment is repeated ‘N’ times . Let the event happen in ‘m’ out of these N Repetitions and fail to happen ‘N-m’ repetitions .Then the ratio m/N is called relative frequency.
P(A)=Lim M/N
N->
When the number of repetitions are made larger and larger the probability of happening of the event is being assumed that that the limit is finite and unique. Ie m/N approaches to a particular value.
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