Statistics Full Video Course - Conditional probability and Multiplication Rule - Statistics

Conditional probability is the probability of one event occurring with some relationship to one or more other events. For example: ... Event B is that you will need to go outside, and that has a probability of 0.5 (50%). The formula for conditional probability is derived from the probability multiplication rule, P(A and B) = P(A)*P(B|A). You may also see this rule as P(A∪B). The Union symbol (∪) means “and”, as in event A happening and event B happening. The multiplication rule states that the probability that A and B both occur is equal to the probability that B occurs times the conditional probability that A occurs given that B occurs.