MKT 300 Lecture Notes - Lecture 26: Chi-Squared Test, Conditional Probability, Bayes Estimator
Document Summary
Used to find the joint probability that both event x and event y will occur when information is not provided in this format. P (x y) = p (x) p (y|x) = p (y) p (x|y) If events x and y are independent. P (x|y) = p (x y) = p(x) p (y|x) The conditional probability of (x|y) is the probability that x will occur given y. To determine whether x and y are independent events, the following assessment can be made: P (x|y) = p (x) and p (y|x) = p (y) When events are independent, each conditional probability is identical in value to its corresponding marginal probability. If any combination of two events fails to indicate this equality exists, the two events are not independent. A graphical representation of the outcomes of an experiment listing all the possible outcomes that could occur.
