PROBABILITY

• If A and B are independent events, then P(A and B) = P(A)*P(B).
• PROBABILITY - The measure of the likelihood of an event to occur
• CONDITIONAL PROBABILITY - The probability of an event B occurring when it is known that some event A has occurred.
• MUTUALLY EXCLUSIVE EVENTS - Two events which cannot happen at the same time
• INDEPENDENT EVENTS - Two events where the outcome of one does not affect the other