- probability
- The likelihood of the occurrence of an event, measured by the ratio of likely occurrences to the total number of possible occurrences. Probabilities can be expressed as
**(i)*******percentages,**(ii)**decimals between 0 and 1,**(iii)**fractions, and**(iv)**qualitative estimates (e.g., high, medium, and low). Using percentages, a probability of 0 percent suggests that an event will never occur, while a probability of 100 percent suggests that an event will occur with*****certainty. See also*****expected value,*****risk, and*****uncertainty.

*Auditor's dictionary.
2014.*

**Synonyms**:

### Look at other dictionaries:

**Probability**— is the likelihood or chance that something is the case or will happen. Probability theory is used extensively in areas such as statistics, mathematics, science and philosophy to draw conclusions about the likelihood of potential events and the… … Wikipedia**probability**— ► NOUN (pl. probabilities) 1) the extent to which something is probable. 2) a probable or most probable event. ● in all probability Cf. ↑in all probability … English terms dictionary**Probability**— Prob a*bil i*ty, n.; pl. {Probabilities}. [L. probabilitas: cf. F. probabilit[ e].] [1913 Webster] 1. The quality or state of being probable; appearance of reality or truth; reasonable ground of presumption; likelihood. [1913 Webster] Probability … The Collaborative International Dictionary of English**probability**— probability, probability distribution See distribution (statistical or frequency)}} ; sampling ; significance tests ; … Dictionary of sociology**probability**— [präb΄ə bil′ə tē] n. pl. probabilities [MFr probabilité < L probabilitas] 1. the quality or state of being probable; likelihood 2. something probable 3. Math. the ratio of the number of times something will probably occur to the total number… … English World dictionary**probability**— I noun anticipation, appearance of truth, believability, chance, conceivability, credibility, credibleness, expectation, fair chance, fair expectation, favorable chance, liability, liableness, likelihood, likeliness, odds, ostensibility,… … Law dictionary**Probability**— [engl.], Wahrscheinlichkeit … Universal-Lexikon**probability**— (n.) mid 15c., quality of being probable, from O.Fr. probabilite (14c.) and directly from L. probabilitatem (nom. probabilitas), from probabilis (see PROBABLE (Cf. probable)). Meaning вЂњsomething likely to be trueвЂќ is from 1570s; mathematical… … Etymology dictionary**probability**— [n] likelihood of something happening anticipation, chance, chances, conceivability, contingency, credibility, expectation, feasibility, hazard, liability, likeliness, odds, outside chance*, plausibility, possibility, practicability, prayer,… … New thesaurus**probability**— noun ADJECTIVE ▪ high, real, strong ▪ There is a high probability that it will snow tonight. ▪ greater, increased ▪ low … Collocations dictionary**probability**— The mathematics of probability is well understood. Probability is a non negative, additive set function whose maximum value is unity. What is harder to understand is the application of the formal notion to the actual world. One point of… … Philosophy dictionary