Question

What does a probability of $0.5$ mean?

Answer 1

Probability is the possibilities, which help us to know what ratio of chances are there for particular cases to come out. Before going to $0.5$ probability, we will know how we will get $0.5$ probability, which helps us to understand what $0.5$ means.

Complete step-by-step solution:
Moving ahead with the description, let us first understand probability.
Probability tells us about the possible outcomes of cases, through some numerical values or ratios. As it helps us to understand which possible conditions will have more chances to come. According to the concept, we will get the possible outcome of any cases when we will divide the number of favourable outcomes with respect to total number possible outcomes, i.e.$\text{Probability}=\dfrac{\text{number }\\!\\!~\\!\\!\text{ of }\\!\\!~\\!\\!\text{ favourable }\\!\\!~\\!\\!\text{ outcomes}}{\text{Total }\\!\\!~\\!\\!\text{ number }\\!\\!~\\!\\!\text{ of }\\!\\!~\\!\\!\text{ outcomes}}$.
So we want the probability $0.5$ as given in question, which should came from the formula of probability which is $\text{Probability}=\dfrac{\text{number }\\!\\!~\\!\\!\text{ of }\\!\\!~\\!\\!\text{ favourable }\\!\\!~\\!\\!\text{ outcomes}}{\text{Total }\\!\\!~\\!\\!\text{ number }\\!\\!~\\!\\!\text{ of }\\!\\!~\\!\\!\text{ outcomes}}$. So let us reduce the $0.5$ value into a ratio, as from the formula we get the probability in the ratio. So we can write $0.5$ in the ratio as $\dfrac{1}{2}$.
So the probability ratio we have is $\dfrac{1}{2}$. Which means we can say that the probability of any case whose value given in question is half of the total number of outcomes. As the total number of outcomes is in the denominator and the possible outcome is in the numerator, and in the ratio $\dfrac{1}{2}$, the numerator is half of the denominator. So we can say the numerator is half of the denominator. So we can say that the possible outcome of any case is half of the total number of outcomes.
Hence $0.5$ means it, the probability of the case whose value is $0.5$ is half times of the total number of outcomes.

Note: Instead of finding probability in ratio we also find them in the form of percent. And according to it, we can say that $0.5$ of probability means possible outcomes have a $50\%$ chance compared to the total number of outcomes.