Probability

Question 1

What does mutually exclusive mean?

Answer 1

Mutually exclusive means only one event can occur at one time.

Question 2

What is unconditional probability?

Answer 2

A probability of an event not conditioned on another event having occurred or occurring sometime in the future is an unconditional/marginal probability

Question 3

How do you calculate the odds for an event, e.g., probability liverpool win the league is 0.80.

Answer 3

= A/B
= 0.80/0.20 = 4

Question 4

How is it different when calculating the odds against?

Answer 4

= b/(a+b)
= 0.2/1 = 0.2

Question 5

What is the equation for a conditional probability?

Answer 5

P(AB) = P(AB)/P(B)

Suppose B Happens 50% of the time, and AB happens 10% of the time, whats the probability of B given A has happened. AB = 0.1, B = 0.5 therefore 0.1/0.5 = 0.2