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5:41 X 6.JPG Define each of these items: a. Conditional probability. b. Event c. Joint probability.
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a) Conditional probability is the probability of happening an event when another event has already taken place. Example:- Probability of flood after rain.

b) Event is the outcome of a situation in which we have assigned probability. Example:- It is 90% probable that next card will be red of heart.

c) Joint probability is the probability of happening two events together. Example:- Probability of stock of ABC and XYZ attaining a growth of more than 10% in its price together.

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5:41 X 6.JPG Define each of these items: a. Conditional probability. b. Event c. Joint probability.
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