Definition Probability
Probability is a measure of how likely an event will occur. In other words: the probability is the chance of an event to happen. If the weather report speaks of a 30% probability of rain, it means that the likelihood that it will rain is smaller than the likelihood that it will not rain. In other words, the chances of it raining are 3 to 10.
Please note that the definitions in our statistics encyclopedia are simplified explanations of terms. Our goal is to make the definitions accessible for a broad audience; thus it is possible that some definitions do not adhere entirely to scientific standards.
Entries starting with
P
- P value
- Probability
- Predictive model
- Population
- Panel data