. Contents . stream . . references at the end of each section. For example, find the probability of a person subscribing for the insurance given that he has taken the house loan. . . . � ����������L3�l�k��}�=ȹ��M6��[�݁��!�����;�;u� ��Wao(3�o2��/1 �Uu}��X1���Z�AD6���l� �� aN s���`Ğ�7�P�I����O������u��d^x��m�G�h���7�1Q:��w��`���`�#��,c �+�����Oqb. . . . . . . . 1.5 Reference . See our User Agreement and Privacy Policy. . 3.4 Reference . Example 4. . Hence in Conditional probability order matters. . . . . . . . . . . 2 Mutually exclusive events . �z��{F�~�/*!��B�P@���>�\$2q��A������e��S�2`����-�5jf`9 i�=~U����}&HK =.�tf� 1\)�� �qn��#FV�����?��3_�;�M���'Q�iv�%���\$�(�}ňt2�C �v�d�sH�)�"����L��3|��0���ǤM��0������\$#�S��S�j>�=)��;b��0!�Yb����~9�L�*]��a\$����O\$�wU���v%��4�n�n�M �>d��.�����@�*��=]s�Y1pF�8-1�c}��d &�+,C�G!Ξ����@3-�� . . . And in the denominator, it is the Marginal probability that is the Probability of a Person being middle-aged. . . . . . . . As they will only take beneficial decisions, once they become the CEO. . . . . . . . . . . . The following table contains the different age group peoples who have defaulted and not defaulted on Loans. . . . . . . . ]�.�\$�)�T������|O'�n�}J �p��)��HM��_��oB F�!+�� �B�k�{�C�ԅ��-��� . . . . . . . a brief introduction on the topic. theory, namely Probability, Mutually exclusive events and Independence. . 5 . . . . A customer enters a store and either purchases a shirt or does not. . . . . . . . . . . . As the name suggests, Conditional Probability is the probability of an event under some given condition. . . . . . . . . . . . Elements of Probability Distribution Theory 1.1 Introductory Deﬁnitions Statistics gives us methods to make inference about a population based on a ran-dom sample representing this population. . 3 0 obj << . %���� . . . . . . . Now see right side all probabilities values are known, hence put them in the above equation and we will get the desired probability. . . . . �\W뫦�����ծ_U۷ݮ�_]�w�����n_�q�~__���]x�;�Ơ����.��Y) �-s:��6�/�}��c[O:��7@� ����|�Wa�s{� ��8纂E��f]E2Ӣg&㬰T7�z�8���� ��� ��S7�6̎����Y.vU�� . . And based on the condition our sample space reduces to the conditional element. . . . If the event of interest is A and the event B is known or assumed to have occurred, “the conditional probability of A given B”, or “the probability of A under the condition B”, is usually written as P(A | B), or sometimes PB(A) or P(A / B) — Wikipedia. . . For the links to the original articles, please check the . . . . . . . 8 �Jq�O7g��G�\$�'O@|*y� ���(O�Hv��35d[x{\$�c�!_�+��t��g�pHfl(�j�� o�K��e���ġ^qȣ���n�CK�Nxķ~&. . 7 . 5 . . . . . As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. . . . . . . . . This document is a condensed version of three Wikipedia articles on basic probability . . . For example, in clinical trials a new drug is applied to a group of patients who suffer from a disease, but we draw conclusions about the drug’s effect on any person suffering from that disease. . . Now see, sample space has changed to the coloured row that is persons who have not defaulted on Loan. . This representation can be generalized to more abstract 3. Find P(A). 1.4.1 Independent probability . . . . . 8ۧw�g�j�N3Y\$Q%/�8@*�#� . . Towards a Service-Oriented Architecture for Serious Games, Customer Code: Creating a Company Customers Love, Be A Great Product Leader (Amplify, Oct 2019), Trillion Dollar Coach Book (Bill Campbell). 9 . /Filter /FlateDecode . . . . . . 2 . . For any comments, use the below comment section to write back to me or even you can write to me using https://ashutoshtripathi.com/contact/. . . . . . . . . A company has the possibility of receiving 0 5 contract awards. . . . . . . 3.1 Deﬁnition for two events . . . . Here sample space is restricted to the persons who have taken house loan.