Conditional probability is a fundamental aspect of probability theory, dealing with the likelihood of an event given another has occurred. It's crucial for understanding dependent events and is calculated using a specific formula. Visual tools like tree and Venn diagrams aid in comprehension, while Bayes' theorem helps invert conditional relationships. These concepts are key for data analysis and informed decision-making in probabilistic contexts.
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Conditional probability assesses the likelihood of an event occurring given that another event has already occurred
Formula for joint probability
The joint probability of two dependent events is calculated by multiplying the probability of the first event by the conditional probability of the second event given the first event
Calculation of conditional probability
Conditional probability is determined by dividing the probability of both events occurring simultaneously by the probability of the first event occurring on its own
Conditional probability follows specific properties, such as the probability of the entire sample space occurring given any event is 1, and the probability of the complement of an event occurring given another event is 1 minus the conditional probability
Tree diagrams are a useful visual tool for understanding and solving problems involving conditional probabilities by graphically representing a sequence of events and their probabilities
Venn diagrams illustrate the relationships and intersections between events, making it easier to calculate conditional probabilities
Bayes' theorem is a fundamental result in probability theory that connects the conditional probabilities of two events through a formula derived from the definition of conditional probability
Bayes' theorem is useful for calculating the probability of an event given its inverse conditionality, such as determining the probability of a person being a smoker given their diagnosis of lung cancer