BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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sum of the probabilities of two events
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sum of the probabilities of two independent events
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probability of the union of two events
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probability of the intersection of two events
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Detailed explanation-1: -Joint probability is a statistical measure that calculates the likelihood of two events occurring together and at the same point in time. Joint probability is the probability of event Y occurring at the same time that event X occurs.
Detailed explanation-2: -Joint probability is the likelihood of more than one event occurring at the same time P(A and B). The probability of event A and event B occurring together. It is the probability of the intersection of two or more events written as p(A ∩ B).
Detailed explanation-3: -Thus, the joint probability is also called the intersection of two or more events.
Detailed explanation-4: -When A and B are independent events, the probability of A intersection B, P(A⋂B) = P(A)×P(B).
Detailed explanation-5: -Formula for Joint Probability The symbol “∩” in a joint probability is called an intersection. The probability of event A and event B happening is the same thing as the point where A and B intersect. Hence, the joint probability is also called the intersection of two or more events.