The probability of a specified event is the chance or likelihood that it will occur. Another view would be subjective in nature, in other words an educated guess. In this course we will mostly be conc...The probability of a specified event is the chance or likelihood that it will occur. Another view would be subjective in nature, in other words an educated guess. In this course we will mostly be concerned with theoretical probability, which is defined as follows: Suppose there is a situation with \(n\) equally likely possible outcomes and that \(m\) of those \(n\) outcomes correspond to a particular event; then the probability of that event is defined as \(\dfrac{m}{n}\).
