In mathematics, a probability measure is a real-valued function defined on a set of events in a probability space that satisfies measure properties such as countable additivity. The difference between a probability measure and the more general notion of measure (which includes concepts like area or volume) is that a probability measure must assign 1 to the entire probability space.
Intuitively, the additivity property says that the probability assigned to the union of two disjoint events by the measure should be the sum of the probabilities of the events, e.g. the value assigned to "1 or 2" in a throw of a die should be the sum of the values assigned to "1" and "2".
Probability measures have applications in diverse fields, from physics to finance and biology.
Read more about Probability Measure: Definition, Example Applications
Famous quotes containing the words probability and/or measure:
“Only in Britain could it be thought a defect to be “too clever by half.” The probability is that too many people are too stupid by three-quarters.”
—John Major (b. 1943)
“There is nothing in machinery, there is nothing in embankments and railways and iron bridges and engineering devices to oblige them to be ugly. Ugliness is the measure of imperfection.”
—H.G. (Herbert George)