Probability is a way to measure how likely an event is to happen. We use the probability formula to calculate this likelihood. The formula is:
\[ P(\text{Event}) = \frac{\text{Number of favorable outcomes}}{\text{Total number of outcomes}} \]
The formula might look complex at first. But it simply means you need to divide the number of ways an event can happen (favorable outcomes) by the total number of possible outcomes.
For example, if you want to find the probability of drawing a black marble from our urn, you need to know two things:
- The number of black marbles (favorable outcomes).
- The total number of marbles in the urn (total outcomes).