Qualitative behaviour of switched systems has attracted considerable research attention in the recent past. In this article we study `how likely' is it for a family of systems to admit stabilizing switching signals. A weighted digraph is associated to a switched system in a natural fashion, and the switching signal is expressed as an infinite walk on this digraph. We provide a linear time probabilistic algorithm to find cycles on this digraph that have a desirable property (we call it ``contractivity''), and under mild statistical hypotheses on the connectivity and weights of the digraph, demonstrate that there exist uncountably many stabilizing switching signals derived from such cycles. Our algorithm does not require the vertex and edge w...