Probability
measures the likelihood that an even will occur
Formula for Probability (if all the possible outcomes are equally likely to occur)
Probability = (# of Desired Outcomes)/(# of Possible Outcomes)
Probability of Multiple Independent Events
Multiply the probabilities of the individual events
Probability of Multiple Dependent Events
Multiply the probabilities of the individual events, BUT you have to calculate the probability of each dependent event as if the preceding event had resulted in the desired outcome
“Probability of A or B or both” Formula
P(A or B) = P(A) + (P)B - P(A and B)