Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
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 thatP(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 haveP(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 isP(A) = 3/(5 + 3) = 3/8Probability of drawing the second black ball given that the first ball drawn is blackP(B/A) = 2/(5 + 2) = 2/7∴ The probability that both balls drawn are black is given byP(AB) = P(A) × P(B/A) = 3/8 × 2/7 = 3/28
Math Assignment Help
Product/Market Expansion Grid Companies should be looking to the future always. One useful device for recognizing growth opportunities for the future is the product/market exp
Product life cycle Meaning and definition: like a human being, all products have a certain length of life during which they pass through certain identifiable stages. Through
Describe the scope of marketing. The scope of marketing can be illustrated in terms of functions which a marketing manager performs. Into most of the business enterprises, ma
Channel management in rural market: In rural distribution we need relatively longer chain distribution involving multiple channels as we have widely scattered markets. Multi
Define the Strategies for Product Positioning. Product positioning is attained through a variety of marketing strategies and programs within product design, distribution and pr
State the marketing communications tools There are five main marketing communications tools: advertising, sales promotion, public relations, direct marketing and personal selli
Question: With the recent upsurge in inflation pressures, there has been growing concern expressed by consumer groups, unions and opinion leaders about the erosion purchasin
Read the journal article Lafferty, B. A., & Hult, G. T. M. (2001) ‘A synthesis of contemporary market orientation perspectives’, European Journal of Marketing, 35 (1/2), pp. 92–109
State the classification of Product Product can be broadly classified on the basis of (1) use, (2) durability, and (3) tangibility . Let's have a brief idea about various ca
approaches followed by FMCG in test marketing
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd