May 13, 2022 · This tutorial provides several examples of how conditional probability is used in real life situations.

Let us understand conditional probability with an example. Let us find the conditional probability of getting at least two tails given that it is a head on the first toss when 3 coins are tossed.

5 days ago · Conditional probability defines the probability of an event occurring based on a given condition or prior knowledge of another event. It is the likelihood of an event occurring, given …

Conditional probability could describe an event like: Event A is that it is raining outside, and it has a 0.3 (30%) chance of raining today. Event B is that you will need to go outside, and that has a …

Example: Tossing a coin. Each toss of a coin is a perfect isolated thing. What it did in the past will not affect the current toss. The chance is simply 1-in-2, or 50%, just like ANY toss of the coin. …

Conditional probabilities allow you to evaluate how prior information affects probabilities. For example, what is the probability of A given B has occurred? When you incorporate existing …

6 days ago · Suppose one draws two cards from a standard deck. If the deck is well shuffled, the chance of the first card being red would be 26 out of 52, or 50 percent. However, when one …

May 21, 2025 · Investors use conditional probability to make financial forecasts, based on the known probability of related events. For example, some stocks perform well during a …

Examples on using the definition of conditional probabilities to solve problems are presented along with detailed solutions. More questions and their solutions are also included.

Conditional probability is mathematically defined as the probability of event A given that event B has occurred. This is expressed as P (A. B). For example, consider two events: Event A: You …