Probability defines the likelihood of occurrence of an event.

There are many

real-life situations in which we may have to predict the outcome of an event.
We may be sure or not sure of the results of an event. In such cases, we say that
there is a probability of this event to occur or not occur. Probability generally
has great applications in games, in business to make probability-based
predictions.

Almost always, we use probability. Probability is the most important thing that
we calculate subconsciously on almost all occasions. For example, when you
are thinking of taking a decision, let it be anything from as small as a decision
to wear a T-Shirt or a Shirt to as big as whether to accept the job offer. Every
thing depends on various conditions or features, like while choosing a shirt, the
features are Color of the shirt, Outside Temperature, Material of the shirt, the
Occasion you are wearing the shirt to, and considering all these features, you
calculate the probability of how comfortable you would be wearing the shirt and
you take a decision. Now this may seem very complicated to calculate
probability provided so many features for just deciding which shirt to wear. Just
think of all the features you have to consider for deciding on a job offer. Well
fortunately, we humans have the most powerful processing powers, and we do
these calculations so subconsciously, we don’t even realize that we are indeed
using probability.

The modern mathematical theory of probability has its roots in attempts to

analyze games of chance by Gerolamo Cardano in the sixteenth century, and by
Pierre de Fermat and Blaise Pascal in the seventeenth century (for example the
"problem of points").

In our day-to-day life the “probability” or

“chance” is very commonly used term.
Sometimes, we use to say “Probably it may rain
tomorrow”, “Probably Mr. X may come for
taking his class today”, “Probably you are
right”. All these terms, possibility and
probability convey the same meaning. But in
statistics probability has certain special
connotation unlike in Layman’s view.The theory
of probability has been developed in 17th
century. It has got its origin from games, tossing
coins, throwing a dice, drawing a card from a
pack. In 1954 Antoine Gornband had taken an
initiation and an interest for this
area. ADVERTISEMENTS: After him many
authors in statistics had tried to remodel the idea
given by the former. The “probability” has
become one of the basic tools of statistics.
Sometimes statistical analysis becomes
paralyzed without the theorem of probability.

Venn Diagram
A Venn diagram uses overlapping circles or other shapes to illustrate the logical relationships
between two or more sets of items. Often, they serve to graphically organize things,
highlighting how the items are similar and different.
Venn diagrams, also called Set diagrams or Logic diagrams, are widely used in mathematics,
statistics, logic, teaching, linguistics, computer science and business.
Venn diagrams are named after British logician John Venn.
Tree Diagram
A tree diagram is simply a way of representing a sequence of events. Tree diagrams are
particularly useful in probability since they record all possible outcomes in a clear and
uncomplicated manner.