Probability
Basic Probability Rules Introduction Rules of Probability Probability Rule One (For any event A, 0 ≤ P(A) ≤ 1) Probability Rule Two (The sum of the probabilities of all possible outcomes is 1) Probability Rule Three (The Complement Rule) Probabilities Involving Multiple Events Probability Rule Four (Addition Rule for Disjoint Events) Finding P(A and B) using Logic Probability Rule Five (The General Addition Rule) Rounding Rule of Thumb for Probability Let’s Summarize CO-6: Apply basic concepts of probability, random variation, and commonly used statistical probability distributions. LO 6.4: Relate the probability of an event to the likelihood of this event occurring. LO 6.5: Apply the relative frequency approach to estimate the probability of an event. LO 6.6: Apply basic logic and probability rules in order to find the empirical probability of an event. Video: Basic Probability Rules (25:17) In the previous section, we introduced probability a