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Chapter 5: Probability (Terms (Mutually Exclusive (If the occurrence of…

- - - - Definition
        
        If two events A and B are mutually exclusive, the probability of one or the other events occurring equals the sum of their probabilities.
      - P(A or B) = P(A) + P(B)
    - - Definition
        
        A and B are two events that are not mutually exclusive.
      - P(A or B) = P(A) + P(B) - P(A and B)
  - - - To determine the probability of an event occurring by subtracting the probability of event not occurring from 1.
  - - - P(A and B) = P(A)P(B)
      - Requires A and B are independent
    - - Definition
        
        To find joint probability that two independent events will occur
      - P(A and B) = P(A)P(B|A)