Joint Probability of Two Events
Joint probability refers to the multiplication rule of probability. This is the probability that both the events will occur.
Example
The probability that the price of oil will rise, P(B) = 0.5
The probability that the bus fare will increase if oil price rises, P(A|B) = 0.4
The probability that both oil prices and bus fares will rise, P(AB) = 0.4*0.5 = 0.2
Create Your Free Account
Create a free account to access this content and join our community of learners.
You'll get access to:
- Access the full tutorial
- Join our learning community
- Track your progress
- Bookmark content for later