# probability

## Definitions

### General English

- noun the quality of
__being__ probable - noun
__being__ __likely__ to happen.

### General Science

- noun a statistical assessment of how likely something is

### Economics

- noun the likelihood that something will happen, expressed mathematically. Most people calculate probability on the basis of past experience.

### Electronics

- A statistical calculation to determine the quantitative likelihood that something will happen.

### Health Economics

(written as *Probability*)

The frequentist definition is the proportion of times (as a decimal fraction) an event would occur if an experiment were repeated a large number of times. More generally, the chances (however assessed) of an event occurring. It lies between 0 and +1.- synonymLikelihood

- noun the likelihood of something happening, often expressed as a fraction or percentage

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