13.1 Introduction
Probability measures the likelihood of occurrence of an event.
- Values lie between 0 and 1
- 0 → Impossible event
- 1 → Certain event
- Widely used in statistics, finance, genetics, and risk analysis
13.2 Conditional Probability
The probability of an event A given that event B has occurred is called conditional probability:P(A∣B)=P(B)P(A∩B),P(B)=0
- Helps in updating probability when new information is known
- Used in real-life scenarios, such as medical tests or weather predictions
13.3 Multiplication Theorem on Probability
For any two events A and B:P(A∩B)=P(A∣B)⋅P(B)=P(B∣A)⋅P(A)
- Can be extended to three or more events
P(A∩B∩C)=P(A)⋅P(B∣A)⋅P(C∣A∩B)
- Useful for joint probabilities of multiple events
13.4 Independent Events
Two events A and B are independent if occurrence of one does not affect the probability of the other:P(A∣B)=P(A)or equivalentlyP(A∩B)=P(A)⋅P(B)
- Example: Tossing a coin and rolling a die are independent events
- Independence simplifies calculations of complex probabilities
13.5 Bayes’ Theorem
Bayes’ theorem allows us to reverse conditional probabilities:P(Ai∣B)=∑jP(Aj)P(B∣Aj)P(Ai)P(B∣Ai)
- Useful when we know effects (B) and want to find causes (A)
- Widely applied in diagnosis, quality control, and decision-making
✅ Key Points to Remember
- Probability measures chance of an event (0 ≤ P ≤ 1)
- Conditional probability updates likelihood given new information
- Multiplication theorem helps find joint probabilities
- Independent events have no influence on each other
- Bayes’ theorem is used to find reverse probabilities