• Probability

  • Probability Basics
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  • Poisson Process
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  • Wiener process
  • Stochastic Calculus

Probability Formula

We can easily find the probability of an event by the proportion (or probability) formula

For example, if we toss a coin the possible or total events are Head and Tail (Only head or tail can occur). So, total events = 2. And, if we want to calculate the probability of head, then our favorable event is only one (that is head). So, favorable event = 1. By putting these values in the probability formula, we obtain

Similarly, if we want to find the probability of tail in tossing a coin then, again we have one favorable event (that is tail). So,

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