Probability

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{game, team, player}
{car, race, vehicle}

Probability is a way of expressing knowledge or belief that an event will occur or has occurred. The concept has been given an exact mathematical meaning in probability theory, which is used extensively in such areas of study as mathematics, statistics, finance, gambling, science, Artificial intelligence/Machine learning and philosophy to draw conclusions about the likelihood of potential events and the underlying mechanics of complex systems.

Contents

Interpretations

The word probability does not have a consistent direct definition. In fact, there are two broad categories of probability interpretations, whose adherents possess different (and sometimes conflicting) views about the fundamental nature of probability:

Etymology

The word Probability derives from latin word probabilitas that can also mean probity, a measure of the authority of a witness in a legal case in Europe, and often correlated with the witness's nobility. In a sense, this differs much from the modern meaning of probability, which, in contrast, is used as a measure of the weight of empirical evidence, and is arrived at from inductive reasoning and statistical inference.[2][3]

History

The scientific study of probability is a modern development. Gambling shows that there has been an interest in quantifying the ideas of probability for millennia, but exact mathematical descriptions of use in those problems only arose much later.

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