Definition of Probability

Mathematical or Classical Probability-

If a random experiment is conducted which results in n exhaustive, mutually exclusive, and equally likely outcomes and there are m favorable cases of occurrence of an event E.

Then probability of happening event E is

P(E)=m/n

Suppose you are tossing a coin and want to get probability of getting head then

E—> Occurrence of head

m=1

n=2

P(E)=1/2

Statistical or Empirical Probability- 

If in N trials an event happens M times  then the probability of happening of an event E is defined as

P(E)=   lim N–>∞   M/N

If a coin is tossed 100 times and head comes 55 times then the probability of happening event E

P(E)=55/100=  0.55

 

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