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 E
1 and E
2 are the events.