Probability and statistics, the branches of mathematics concerned with the laws governing random events, including the collection, analysis, interpretation, and display of numerical data.

What is the relation between probability and statistics?

Probability deals with predicting the likelihood of future events, while statistics involves the analysis of the frequency of past events. Probability is primarily a theoretical branch of mathematics, which studies the consequences of mathematical definitions.

What is an probability in statistics?

Probability is the measure of the likelihood that an event will occur in a Random Experiment. Probability is quantified as a number between 0 and 1, where, loosely speaking, 0 indicates impossibility and 1 indicates certainty. The higher the probability of an event, the more likely it is that the event will occur.