PROBABILITY (PART 2)
Probability measures the likelihood of an event occurring, expressed as a number between 0 and 1. An event with a probability of 0 is impossible, while an event with a probability of 1 is certain. The probability of an event is calculated using the formula: probability = favorable outcomes / total possible outcomes. Probability can be classified as theoretical, experimental, or subjective. It is widely used in statistics, gambling, risk assessment, and decision-making.