When you have completed this chapter, you will be able to:

1. Define probability.



2. Describe the classical, empirical, and subjective approaches to probability.



3. Explain the terms experiment, event, outcome, permutations, and combinations.



4. Define the terms conditional probability and joint probability.



5. Calculate probabilities using the rules of addition and rules of multiplication.



6. Apply a tree diagram to organize and compute probabilities.



7. Calculate a probability using Bayes' theorem.