The likely chance that a particular incidence will occur within a statistical sample. This can be expressed as a decimal fraction of total occurrences or as a ratio to the likely number of nonoccurences.
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The probable frequency of incidence of a given occurrence in a statistical sample. It is expressed as a ratio to the probable number of non-occurrences or as a decimal fraction of the total occurrences. For example, a probability of .25 equals odds to three to one against. A probability of .75 equals odd to three tone for.