Q: Is probability the measure of the likelihood that an event will occur? ¶
Q: Is probability Bayesian probability? ¶
A: Yes, and which includes expert knowledge as well as experimental data to produce probabilities.
Q: Is probability frequentist probability? ¶
A: Yes, and which claims that the probability of a random event denotes the relative frequency of occurrence of an experiment's outcome, when repeating the experiment.
Q: Is probability a modern development of mathematics? ¶
Q: Is probability used to design games of chance so that casinos can make a guaranteed profit? ¶
A: Yes, yet provide payouts to players that are frequent enough to encourage continued play.
Q: Are probabilities neither assessed independently nor necessarily very rationally? ¶
Q: Is probability quantified as a number between 0 and 1? ¶
A: Yes, and where, loosely speaking, 0 indicates impossibility and 1 indicates certainty.
Q: Is probability the same? ¶
A: Yes, and except for technical details.
Q: Is probability taken as a primitive and the emphasis is on constructing a consistent assignment of probability values to propositions? ¶
Q: Is probability a representation of probabilistic concepts in formal terms—that is? ¶
A: Yes, and in terms that can be considered separately from their meaning.
Q: Is probability a way of assigning every event a value between zero and one? ¶
A: Yes, and with the requirement that the event made up of all possible results is assigned a value of one.