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Probability

~A measure of chance

Probability that an EVENT will NOT OCCUR.

P(E) = 0

Probability that an EVENT WILL OCCUR.

P(E) = 1 or 100%

Theoretical Probability

P(E) =

Favorable Outcome

Total Outcomes

Mutually Exclusive
Two events that cannot occur at the same time

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Nonmutually Exclusive
Two events that can occur at the same time

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Addition Rule for Probability

If two events, A and B, are mutually exclusive.

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

Addition Rule for Probability

If two events, A and B, are nonmutually exclusive.

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

Independent Events
When one event occurs and does NOT affect the other events probability of occurrence

Probability of Independent Events

P(A and B) = P(A) * P(B)

Dependent Events

When one event occurs and DOES affect the other events probability of occurrence

Probability of Dependent Events

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

Conditional Probability

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

P( A and B)
Indicates the intersection of two sample spaces (two events occurring)

P( A or B)
Indicates the union of two sample spaces (two events occurring)

Probability of the Complement of an Event

P(not A) = 1 P(A)