Question

What is the relationship between probability and percent?

Answer 1

It's a matter of converting between a fraction and a percentage .

Remember that the word 'percent' really means 'per hundred'.
(and you are in fact converting from dollars to cents and back)

So if you have a probability of `0.11` you can rewrite this as
`0.11=11/100=11%` (or `$0.11=11 cents`)

And the other way around, if you have a chance-percentage of `45%` you can rewrite this as:
`45%=45/100=0.45` (or `45cents=$0.45`)

The rule:
Fraction`->`percentage = times 100
Percentage `->` fraction = divide by 100

That's all there is to it.

One more thing:
In probabilities you never have more than `$1` or `100%`