Probability

Probability is the branch of mathematics that deals with the likelihood that certain outcomes will occur. There are five basic rules, or axioms, that one must understand while studying the fundamentals of probability.

Union and intersection are two key concepts in set theory and probability.

The conditional probability of an event is the probability that an event will occur given that another event has occurred.

The complement of $A$ is the event in which $A$ does not occur.

The addition rule states the probability of two events is the sum of the probability that either will happen minus the probability that both will happen.

The multiplication rule states that the probability that $A$ and $B$ both occur is equal to the probability that $B$ occurs times the conditional probability that $A$ occurs given that $B$ occurs.

To say that two events are independent means that the occurrence of one does not affect the probability of the other.

The experimental probability is the ratio of the number of outcomes in which an event occurs to the total number of trials in an experiment.