Making Fair Decisions Using Probabilities

the extent to which an event is likely to occur, measured by the ratio of the favourable cases to the whole number of cases possible

the extent to which something is likely to happen or be the case

CHANCE - a possibility of something happening.

Event - a thing that happens or takes place, especially one of importance.

RANDOM - made, done, or happening without method or conscious decision.

PREDICTABLE - An expected result

Sample Space  - he sample space of an experiment or random trial is the set of all possible outcomes or results of that experiment.

Bias -  Bias, prejudice mean a strong inclination of the mind or a preconceived opinion about something or someone. A bias may be favorable or unfavorable: bias in favor of or against an idea.

Outcome - an outcome is a possible result of an experiment or trial. Each possible outcome of a particular experiment is unique, and different outcomes are mutually exclusive. All of the possible outcomes of an experiment form the elements of a sample space

Probabilities go from 0 to 1 as decimals and fractions or from  0% to 100%

A probability of 1 or 100 % is described as CERTAIN

A probability of 0 is said to be IMPOSSIBLE 

A probability of 50 % or 1/2 or 0.5 is described as being EVEN

 A probability of between 0 and 0.5 or 0 and 1/2 or 0 % and 50 % is described as being UNLIKELY 

A probability between 0.5 and 1or 1/2 and 1 or 50 % and 100 % is described as being LIKELY 

Experimental Probability or relative frequency - Experimental probability is probability that is determined on the basis of the results of an experiment repeated many times

Theoretical Proability - Theoretical probability is probability that is determined on the basis of reasoning.