probability
US /ˌprɑː.bəˈbɪl.ə.t̬i/
UK /ˌprɑː.bəˈbɪl.ə.t̬i/
1.
the extent to which something is likely to happen or be the case
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There is a high probability of rain tomorrow.
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The probability of winning the lottery is very low.
2.
a measure of the likelihood that an event will occur; a number expressing the ratio of favorable cases to the whole number of cases possible
:
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In mathematics, probability is often expressed as a fraction or decimal.
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He is studying advanced probability theory.