Question

The measure of probability of an event if another event has already occurred is known as
1. Conditional probability
2. Axiomatic probability
3. Equally likely outcome
4. Mutually exclusive events
5. None of these

Answer 1

Correct Answer - Option 1 : Conditional probability

Calculation:

In probability theory, the probability measure of an event is made if another event has already occurred is referred to as conditional probability.

For calculating conditional probability, the probability of the preceding event and the probability of succeeding event is multiplied.

Conditional probability is given by

\(P\left( {{E_1}/{E_2}} \right) = \frac{{P\left( {{E_1} \cap {E_2}} \right)}}{{P\left( {{E_2}} \right)}}\)

\(P\left( {{E_2}/{E_1}} \right) = \frac{{P\left( {{E_1} \cap {E_2}} \right)}}{{P\left( {{E_1}} \right)}}\)

Where E₁ and E₂ are the events.