Probability means Possibility. It states how likely an event is about to happen. The probability of an event can exist only between 0 and 1 where 0 indicates that event is not going to happen i.e. Impossibility and 1 indicates that it is going to happen for sure i.e. Certainty.
The higher or lesser the probability of an event, the more likely it is that the event will occur or not respectively. For example – An unbiased coin is tossed once. So the total number of outcomes can be 2 only i.e. either “heads” or “tails”. The probability of both outcomes is equal i.e. 50% or 1/2.
