Probability is the measure of the likelihood of an event occurring. Probability, p, takes the value: 0 ≤ p ≤ 1.
If the probability that an event occurs is 1, then the event will definitely occur. If the probability that an event occurs is 0, then the event will definitely not occur. If the probability of an event occurring is 0.5, then there is a chance of it happening 50% of the time.
- Probability of event A = number of outcomes for event A / total number of outcomes
- P(AUB) = P(A) + P(B) – P(A∩B)
- P(A|B) = P(A∩B)/P(B)
- If A and B are independent, P(A∩B) = P(A) x P(B), P(A|B) = P(A)
- If A and B are mutually exclusive, P(A∩B) = 0
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