Take two events A and B. For example, let A be the event “Receive a score of 95% on the econometrics exam” and let B be the event “Study econometrics 12 hours a day”. We might be interested in the ...

The current definition of a conditional probability enables one to update probabilities only on the basis of stochastic information. This paper provides a definition for conditional probability with ...

Probability Distribution Notes: Probability is a fundamental aspect of mathematics that helps us understand and quantify uncertainty. Mastery of this subject is essential for students, as it has ...

We elaborate on an alternative representation of conditional probability to the usual tree diagram. We term the representation “turtleback diagram” for its resemblance to the pattern on turtle shells.

Forbes contributors publish independent expert analyses and insights. Writes about the future of finance and technology, follow for more. Joint probability teaches us to calculate combined outcomes.