


The relative likelihood of a particular outcome among all possible outcomes.


the likelihood of a particular uncertain event occurring, measured on a scale from 0.0 (such an event is impossible) to 1.0 (such an event is certain to occur). People generally estimate probabilities on the basis of the relative frequency with which an event has occurred in the past, under given circumstances, and generalize from this past experience. In some circumstances it is easy to estimate the proportion of occasions on which an event occurs; for example, the probability of getting ‘heads’ when flipping a balanced coin is 0.5 because with such a coin in the long run we would get 50% ‘heads’ and 50% ‘tails’. In estimating probabilities in business situations, though, there may be no or only a few previous experiences that can be used to gauge the relative frequency of an event occurring. See also RISK AND UNCERTAINTY.
References in classic literature ?
Then the next one higher than it, but just beyond it, is called 'MERCY'--in all probability a corruption or familiarisation of the word MERCIA, with a Roman pun included.
Had that gentleman been present, the transfer, in all probability, would not have taken place.

Full browser ?