Probability

Probability is the likelihood or chance that something is the case or that an event will occur. Probability theory is used extensively in such areas of study as mathematics, Statistics, finance, gambling, science, and philosophy to draw conclusions about the likelihood of potential events and the underlying mechanics of Complex System-s.

http://en.wikipedia.org/wiki/Probability

http://en.wikipedia.org/wiki/Probability_theory

see Risk Management


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