- Probability is the study of chance, or the likelihood of an event happpening.
- Probability of an event =
- If probability = 0, the evnt is impossible and if probability = 1, the event is certain to happen.
- All probabilities lie between 0 and 1.
Events
- Exclusive Events
- Two events are exclusive if they cannot occur at the same time.
- The OR Rule:
- For exclusive events A and B:
- p(A or B) = p(A) + p(B)
- Independent Events
- Two events are independent if an occurrence of one is unaffected by the occurrence of the other.
- The AND Rule:
