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Probability is a measure of the expectation that an event will occur or a statement is true. Probabilities are given a value between 0 (will not occur) and 1 (will occur).[1] The higher the probability of an event, the more certain we are that the event will occur.

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What does fair mean from a probability perspective?

From a probability perspective fair means equal probability.


What does it mean to find the probability of an event?

Read the introduction to probability and probability measures at StatLect.com


What does and mean in probability?

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Dependent probability is the probability of an event which changes according to the outcome of some other event.


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The mean of a discrete probability distribution is also called the Expected Value.


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