Probability is the branch of mathematics where we determine how likely an event is to occur. It is represented as a numeric value ranging from 0 to 1. Probability can be calculated as: Total outcomes represent the complete set of possible results an event can produce.
Probability is a subject that deals with uncertainty. In everyday terminology, probability can be thought of as a numerical measure of the likelihood that a particular event will occur.
The study of probability is important because it deals with quantifying problems with uncertain results. For example, in manufacturing, it is always uncertain whether or not a manufacturing process will produce a product with defects.