Probabilities are numerical measures that represent the chances or likelihood of a particular event occurring. They range from 0 (impossible or will not occur) to 1 (certain or will occur). Probabilities can be expressed as fractions, decimals, percentages or ratios. They are used extensively in statistics, mathematics, and other fields to help make predictions and decisions based on uncertain or incomplete information. Understanding probabilities is an important part of critical thinking and decision-making in many areas of life, from economics and finance to sports and gambling.
