What is the difference between probability and possibility?
In: Mathematics
Probability refers to the likelihood or chance that a specific event will occur, usually expressed as a numerical value between 0 and 1, where 0 indicates impossibility and 1 indicates certainty. Possibility, on the other hand, simply suggests that something could potentially happen, without quantifying the likelihood. In essence, probability deals with quantifying the likelihood of an event occurring based on available information and statistical analysis, while possibility is a more general concept that acknowledges the potential for something to happen without specifying its likelihood.
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