When you have completed this chapter, you will be able to:
- Define probability.
- Describe the classical, empirical, and subjective approaches to probability.
- Explain the terms experiment, event, outcome, permutations, and combinations.
- Define the terms conditional probability and joint probability.
- Calculate probabilities using the rules of addition and rules of multiplication.
- Apply a tree diagram to organize and compute probabilities.
- Calculate a probability using Bayes’ theorem.