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'''Probability''' theory is the study of uncertainty, a relatively new branch of mathematics.

'''Probability''' theory is the study of [[uncertainty]], a relatively new branch of mathematics.

The '''probability''' of an event is a number between 0 and 1 representing the likelihood of the event's occurrence.  It may be expressed as a simple fraction, decimal fraction, or percentage. When there are a finite number of equally likely outcomes, the probability of an event is given by

The '''probability''' of an event is a number between 0 and 1 representing the likelihood of the event's occurrence.  It may be expressed as a simple fraction, decimal fraction, or percentage. When there are a finite number of equally likely outcomes, the probability of an event is given by