Important Formulas of Probability
- Rule of Addition: The probability of either event (A) or event (B) occurring is given by:
P(A ∪ B) = P(A) + P(B) – P(A ⋂ B)
- Rule of Complementary Events: The sum of the probabilities of an event and its complementary event is always 1:
P(A’) + P(A) = 1
- Disjoint (Mutually Exclusive) Events: If events (A) and (B) cannot occur simultaneously (i.e., (A ⋂ B = 0)), then:
P(A ⋂ B) = 0
- Independent Events: If events (A) and (B) are independent, their joint probability is the product of their individual probabilities:
P(A ⋂ B) = P(A) · P(B)
- Conditional Probability: The probability of event (A) given that event (B) has occurred is given using the formula:
P(A|B) = P(A ⋂ B)/P(B)
How to Calculate Probability
Probability is a fascinating and vital field of mathematics that deals with calculating the likelihood of events occurring. It is a concept that permeates our daily lives, from predicting weather patterns to making informed decisions in business and finance. For students, understanding probability is not only crucial for academic success but also for developing analytical skills that are applicable in various real-world scenarios.
In this article, we will discuss how to calculate probability.
Table of Content
- What is Probability?
- Important Formulas of Probability
- Conditional Probability
- Probability Distributions
- Common Misconceptions
- Conclusion
- Solved Problems on Probability
- FAQs on Probability