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Answer to: which term is defined as the chance that a given event will occur
Probability
Probability is the measure of the likelihood that an event will occur . See glossary of probability and statistics . Probability is quantified as a number between 0 and 1 , where , loosely speaking , 0 indicates impossibility and 1 indicates certainty . The higher the probability of an event , the more likely it is that the event will occur . A simple example is the tossing of a fair ( unbiased ) coin . Since the coin is fair , the two outcomes ( “ heads ” and “ tails ” ) are both equally probable ; the probability of “ heads ” equals the probability of “ tails ” ; and since no other outcomes are possible , the probability of either “ heads ” or “ tails ” is 1 / 2 ( which could also be written as 0.5 or 50 % ) .
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which term is defined as the chance that a given event will occur
Probability