Void statistics of the galaxy distribution in the Center for Astrophysics Redshift Survey provide strong constraints on galaxy clustering in the nonlinear regime, i.e., on scales R less than or similar to 10h(-1) Mpc. Computation of high-order moments of the galaxy distribution requires a sample that (1) densely traces the large-scale structure and (2) covers sufficient volume to obtain good statistics. The CfA redshift survey densely samples structure on scales less than or similar to 10h(-1) Mpc and has sufficient depth and angular coverage to approach a fair sample on these scales. In the nonlinear regime, the void probability function (VPF) for CfA samples exhibits apparent agreement with hierarchical scaling [such scaling implies that the N-point correlation functions for N>2 depend only on pairwise products of the two-point function xi(r)] However, simulations of cosmological models show that this scaling in redshift space does not necessarily imply such scaling in real space, even in the nonlinear regime; peculiar velocities cause distortions which can yield erroneous agreement with hierarchical scaling. The underdensity probability measures the frequency of ''voids'' with density p<0.2p. This statistic reveals a paucity of very bright galaxies (L>L*) in the ''voids.'' Underdensities are greater than or similar to 2 sigma more frequent in bright galaxy samples than in samples that include fainter galaxies. Comparison of void statistics of CfA samples with simulations of a range of cosmological models favors models with Gaussian primordial fluctuations and CDM-like initial power spectra. Biased models tend to produce voids that are too empty. We also compare these data with three specific models of the Cold Dark Matter cosmogony: an unbiased, open universe CDM model (Omega=0.4, h=0.5) provides a good match to the VPF of the CfA samples. Biasing of the galaxy distribution in the ''standard'' CDM model (Omega=0.1, b=1.5; see below for definitions) and nonzero cosmological constant CDM model (Omega=0.4, h=0.6 lambda(0)=0.6, b=1.3) produce voids that are too empty. All three simulations match the observed VPF and underdensity probability for samples of very bright (M<M*=-19.2) galaxies, but produce voids that are too empty when compared with samples that include fainter galaxies.