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Edinburgh, United Kingdom

University of Edinburgh

Probability and Stochastics

Language: English Studies in English

Subject area: mathematics and statistics

University website: www.ed.ac.uk

Probability

Probability is the measure of the likelihood that an event will occur. See glossary of probability and statistics. Probability is quantified as a number between 0 and 1, where, loosely speaking, 0 indicates impossibility and 1 indicates certainty. The higher the probability of an event, the more likely it is that the event will occur. A simple example is the tossing of a fair (unbiased) coin. Since the coin is fair, the two outcomes ("heads" and "tails") are both equally probable; the probability of "heads" equals the probability of "tails"; and since no other outcomes are possible, the probability of either "heads" or "tails" is 1/2 (which could also be written as 0.5 or 50%).

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Probability

Probability is the very guide of life.

Cicero, De Natura, 5, 12; reported in Hoyt's New Cyclopedia Of Practical Quotations (1922), p. 634. Quoted by Bishop Butler. Also used by Richard Hooker, Ecclesiastical Polity, Book I, Chapter VIII., and, Book II, Chapter VII. Found in John Locke, Essays, Book IV, Chapter XV. Also in Hobbes' Leviathan.

Wikiquote

Probability

R. A. Fisher, J. Neyman, R. von Mises, W. Feller, and L. J. Savage denied vehemently that probability theory is an extension of logic, and accused Laplace and Jeffreys of committing metaphysical nonsense for thinking that it is.

E. T. Jaynes; G. Larry Bretthorst (10 April 2003). Probability Theory: The Logic of Science. Cambridge University Press. p. 293. ISBN 978-0-521-59271-0.

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Probability

The epistemological value of probability theory is based on the fact that chance phenomena, considered collectively and on a grand scale, create non-random regularity.

Andrey Kolmogorov, Limit Distributions for Sums of Independent Random Variables (1954), as translated by K. L. Chung

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