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Unformatted text preview: Uses probability values based on an educated guess or estimate. It employs opinions and inexact information. Mutually Exclusive Events Two events which cannot happen at the same time. Disjoint Events Another name for mutually exclusive events. Independent Events Two events are independent if the occurrence of one does not affect the probability of the other occurring. Dependent Events Two events are dependent if the first event affects the outcome or occurrence of the second event in a way the probability is changed. Conditional Probability The probability of an event occurring given that another event has already occurred. Bayes' Theorem A formula which allows one to find the probability that an event occurred as the result of a particular previous event....
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This note was uploaded on 01/26/2012 for the course MATH 1070 taught by Professor Akbas during the Spring '08 term at Georgia State University, Atlanta.
 Spring '08
 AKBAS
 Statistics, Probability

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