Probability interpretations

system for reasoning about vagueness

thumb|Situations often arise wherein a decision must be made when the results of each possible choice are uncertain.

interpretation of probability as a measure of the degree of belief of an individual assessing the uncertainty of a particular situation

interpretation of probability as limiting values of relative frequencies

Concept in probability theory

reasoning about degrees of belief using Bayesian inference

a lack of any quantifiable knowledge about some possible occurrence, as opposed to the presence of quantifiable risk, indicating some fundamental degree of ignorance, a limit to knowledge, and an essential unpredictability of future events

theorem that derivates of the laws of probability from a certain set of postulates

Equiprobability is a property for a collection of events that each have the same probability of occurring. In statistics and probability theory it is applied in the discrete uniform distribution and the equidistribution theorem for rational numbers. If there are n events under consideration, the probability of each occurring is \frac{1}{n}.

philosophical interpretation of the axioms of probability

mathematical method of assigning a prior probability to a given observation