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Probability

  • 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:
      • p(A and B) = p(A) × p(B)
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