ECON 2B03 Lecture Notes - Mutual Exclusivity, Face Card
6 Nov 2013
School
Department
Course
Professor
Document Summary
Lecture # 9- chapter 4 and 5 (part 3) Ie: the outcome must be either a or b. In this instance: p (a u b)= p(a)+ p(b: add a + b, the area in the middle is counted subtract the area in the middle from the 2 circles. Example (consider a deck having 52 cards (12 are face cards ie: j, Laws of probability: multiplication: unconditional probability p(a, the likelihood that a particular event will occur, regardless of whether another event occurs. Example (unconditional, conditional, joint probability: the probability of drawing a heart (event b) is an unconditional probability. P(heart)= p(b)= 13/52: the probability of drawing a face card (event a) and a heart (event b) is a joint probability (ie: drawing a face card that is also a heart) P(face card heart)= p(a b) = 3/52: the probability of drawing a face card (event a) given that the card drawn was a heart (event b) is a conditional probability.
