Probability Concepts and Calculations

Chapter 5 covers probability, explaining concepts like mutually exclusive and independent events, and conditional probability. It includes examples such as rolling dice and analyzing high school graduates and homeowners. The chapter concludes with a summary of key points.

What is the range of probability values?

• 0 to 1

• 0 to 100

• -1 to 1

• 0 to 10

How do you calculate the probability of an event A?

• Total number of outcomes minus number of outcomes corresponding to A

• Number of outcomes corresponding to A multiplied by total number of outcomes

• Total number of outcomes divided by number of outcomes corresponding to A

• Number of outcomes corresponding to A divided by total number of outcomes

What does it mean if two events are mutually exclusive?

• They affect each other's outcomes

• They have the same probability

• They can happen at the same time

• They cannot happen at the same time

What is the union of two events in probability?

• The probability of either event happening

• The probability of one event affecting the other

• The probability of neither event happening

• The probability of both events happening

What does it mean for two events to be independent?

• The outcome of one event affects the other

• Both events cannot happen at the same time

• The outcome of one event does not affect the other

• Both events have the same probability

How do you calculate the probability of either event A or B occurring?

• P(A) + P(B) - P(A and B)

• P(A) * P(B)

• P(A) - P(B)

• P(A) + P(B)

What is the formula for calculating the probability of two independent events A and B?

• P(A) / P(B)

• P(A) - P(B)

• P(A) + P(B)

• P(A) * P(B)

What is the formula for calculating the probability of two independent events A and B?

• P(A) * P(B)

• P(A) + P(B)

• P(A) - P(B)

• P(A) / P(B)

What is the formula for calculating the probability of two independent events A and B?

• P(A) / P(B)

• P(A) - P(B)

• P(A) + P(B)

• P(A) * P(B)

What is conditional probability?

• Probability of two events happening at the same time

• Probability of an event affecting another event

• Probability of an event given that another event has occurred

• Probability of an event not happening