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Dec 13, 2019 at 16:10 comment added Tim @Bennet not only "1 in 20", you mentioned yourself other interpretations of probability.
Dec 13, 2019 at 8:14 vote accept Bennet
Dec 13, 2019 at 8:14 comment added Bennet OK, I see, in effect the definition of a "5% event" is something that happens 1 in 20 times, right? And probability theory lets us manipulate such quantities in a consistent manner. Makes sense, thanks. I'll read up the article - it starts a bit heavy on the meta, but maybe that's what I need!
Dec 12, 2019 at 11:27 history answered Tim CC BY-SA 4.0