Probability Rules

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5 Terms

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sum of probabilities for all possible outcomes

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independent events

P(both A&B) = P(A)XP(B)

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Complimentary events

P(not A) = 1-P(A)

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Mutually exclusive events

events that cannot happen at the same time

P(either A or B) = P(A) + P(B)

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Conditional Probabilities

The probability of one event given the known outcome of a (possibly) related event.

P(A|B) = P(A and B)/P(B) or

P(B|A) = P(A and B)/P(A)