You're on a roll — Probability quantifies the likelihood of an event occurring, expressed as a number between 0 (impossible) and 1 (certain). An experiment has various outcomes, and the set of all possible outcomes is the sample space. An event is a specific collection of outcomes. The probability of an event A is often calculated as:
P(A)=TotalnumberofpossibleoutcomesNumberoffavorableoutcomes
Key rules include the Addition Rule for "or" events and the Multiplication Rule for "and" events, especially for independent occurrences.
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