Is the likelihood that a given event will occur.

Probability

Explanation:

Probability determines the chances of occurrence of an event. It is mathematical calculation based method to determine the extent of appearance of any event in given frame time.

For example if Ram falls ill every third day of a week so what will be the likelihood of the event “Ram will go to school if fall ill for the first time on monday”.  

Since in a week there are seven days, thus every third day means that Ram will fall ill at most 2 times in a week. If he falls ill on Monday for the first time then he will fall ill for the second time on Thursday. Thus out of 7 days he goes to school for 5 days, Thus his probability of going to school is 5/7