Conditional probability, math, Marketing Management

Assignment Help:

What is Conditional Probability?

Two events A and B are said to be dependent when B can occur only when A is known to have occurred (or vice versa). The probability attached to such an event is called the conditional probability and is denoted byP(A/B) or, in other words probability of A given that B has occurred.

If two events A and B are dependent, then the conditional probability of B given A is:

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

Proof: suppose a1 is the number of cases for the simultaneous happening of A and B out of a1 + a2 cases in which A can happen with or without happening of B.

∴ P(B/A) = a1/(a1 + a2) = (a1/n)/(a1 + a2)/n = P(AB)/P(A)

Similarly it can be shown that

P(A/B) = P[(AB)/P(B)]

The general rule of multiplication in its modified form in terms of conditional probability becomes:

P(A and B) = P(B) × P(A/B)

Or, P(A and B) = P(A) × P(B/A)

For three events A, B and C we have

P(ABC) = P(A) × P(B/A) × P(C/AB)


i.e. the probability of occurrence of A, B and C is equal to the probability of A, times of the probability of B given that A has occurred, times the probability of C given that both A and B have occurred.

Illustration: a bag contains 5 white and 3 black balls. Two balls are drawn at random one after the other without replacement. Find the probability that both balls drawn are black.

Solution: probability of drawing a black ball in the first attempt is

P(A) = 3/(5 + 3) = 3/8

Probability of drawing the second black ball given that the first ball drawn is black

P(B/A) = 2/(5 + 2) = 2/7

∴ The probability that both balls drawn are black is given by

P(AB) = P(A) × P(B/A) = 3/8 × 2/7 = 3/28  

Math Assignment Help


Related Discussions:- Conditional probability, math

Marketing mix., number of channel levels of panasonic

number of channel levels of panasonic

What are the basic styles of negotiation, Question 1: (a) What are the...

Question 1: (a) What are the basic styles of negotiation? (b) Explain the implication of Prisoner's Dilemma game? (c) Describe why people act in Red style to protect th

#title.a marketing plan and implementation, a marketing plan is as good as ...

a marketing plan is as good as its implementation discuss

What is advertising in functions of marketing, What is advertising in funct...

What is advertising in functions facilitating exchange? Advertising: Advertising has become a significant function of marketing into the competitive world. This helps to s

Various tasks in product line appraisal, Q.       Describe various tasks i...

Q.       Describe various tasks in product line appraisal? Ans.:     Company objectives influence product line length. 1 objective is to make a product line to induce up sel

What is influence of the human resource information system, What is influen...

What is influence of the human resource information system? Affect of Human Resource Information System (HRIS): Firms have invested upon the software for P+R as Oracle, S

Write on structural and institutional change, Question 1: "There have b...

Question 1: "There have been evident signs that the public sector needs to be reformed as the socio-economic context in which Mauritius is faring has changed." Discuss the pres

Calculate the total time, Question: a) Suppose a web client makes a re...

Question: a) Suppose a web client makes a request for a resource located on an internal web server using on a 10Mbps Ethernet LAN. The client and the server are connected via

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd