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PROBABILITY. That which is likely to happen; that which is most consonant to reason; for example, there is a strong probability that a man of a good moral character, and who has heretofore been remarkable for truth, will, when examined as a witness under oath, tell the truth; and, on the contrary, that a man who has been guilty of perjury, will not, under the same circumstances, tell the truth; the former will, therefore, be entitled to credit, while the latter will not.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
(4) The probability] on the evidence e for the assumption that the actual length is 80.2 is 0; the probability, for the assumption that the actual length is between 80.15 and 80.25 is considerably lower than 1/2.
Importance of Predicting Recessions/Strength of Recoveries Probability: A Theoretical View
So there are at least three different ways of estimating the probability of tossing a six, and the values may be all quite different.
The probability of the next ticket winning is always 1:4.
Sometimes, there's no realistic way to calculate the odds, so we use vague phrases such as, "Even though the season has yet to start, my money is on Boston to win the championship" or, "Unless something goes very wrong, this time next year we'll have moved to Boulder." When it's very vague, we'll use a word such as "probably," which is less an assessment of probability than a way of ducking responsibility for an error.
3GPP and ITU proposed LOS probability models can be approximated by the following distance dependence law
How do these probability weighting preferences translate to real-life decisions?
When risk judgment or decision making is complex and psychological resources are limited, it is simpler and more effective to use the affect heuristic rather than probability theory to make judgments.
where f([v.sub.i] |[H.sub.0]) and f([v.sub.i] |[H.sub.1]) are the probability density functions of vi under hypotheses [H.sub.0] and [H.sub.1], respectively; [mathematical expression not reproducible] is the Q function.
France is the top dog and will progress with 92% probability, winning the group with 73.2% likelihood.
Before you do this in-depth analysis, it's helpful to know which firms have already been identified as having an elevated probability of failing to meet their financial obligations.

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