P(A) = Favorable Outcomes / Total Outcomes
P(A′) = 1 − P(A)
P(A ∪ B) = P(A) + P(B) − P(A ∩ B)
Probability measures the likelihood that an event will occur. It ranges from 0 to 1 where 0 means the event cannot occur and 1 means the event is certain to occur. Probability theory is widely used in statistics, finance, machine learning, risk analysis and scientific research.
Probability measures how likely an event is to occur and is calculated as favorable outcomes divided by total outcomes.
Union probability calculates the probability that either event A or event B occurs using P(A ∪ B).