Outcomes can be predicted mathematically using statistics or probability. To determine the probability of an event occurring, take the number of the desired outcome, and divide it by the possible number of outcomes. With statistics, an outcome is predicted based on recorded behavior.Continue Reading
The theoretical probability of flipping a head after tossing a coin is 1/2, as obtained from dividing one (desired outcome) by two (head plus tail). When using statistics, one would first toss the coin a number of times and record the outcome each time. If "head" appeared 19 times after flipping the coin 36 times, the probability of flipping "head" would be 19/36, or 53 percent.
The validity and precision of such predictions depends on statistical reliability. When studying the efficacy of blood pressure medication in mice, a person would want to carry out a number of trials before trying it out on humans. Predictions for effectiveness of the drug on humans would be more reliable if trials in mice produce consistent results at different times.
Statistics have also been employed to predict outcomes of football matches for betting purposes. For instance, many pundits and fans thought Brazil would win the 2014 FIFA World Cup because statistics showed it had won many times against European opponents before.Learn more about Statistics
Theoretically, define the probability of a specific outcome of any event as the ratio of the number of outcomes that favor that specific outcome to the total number of possible outcomes of that event. Mathematically, define the probability of outcome "A" with this equation: P(A) = Number of outcomes that favor A / Number of every possible outcome.Full Answer >
The formula to determine probability is dividing the number of ways an event can occur by the total possible outcomes. Probability is defined as the measurement of how likely an event will occur. This event is the results or outcomes of an experiment.Full Answer >
A binomial experiment is a type of probability distribution in statistics that defines the probability of only two possible outcomes. This experiment involves a specific number of independent trials that lead to exclusively dichotomous alternatives.Full Answer >
Probability and the ability to understand and estimate the likelihood of any different combination of outcomes versus one another are very important in day to day life. There are a number of different types of activities people engage in that involve probability and chance whether they realize it or not. Some of these activities involve things like being late for work, saving money or signing up for a class.Full Answer >