Question

5 application of addition law of probability upto 10 page​

Answer 1

Answer:

If A and B are two events in a probability experiment, then the probability that either one of the events will occur is: P(A or B)=P(A)+P(B)−P(A and B)

Applications. Probability theory is applied in everyday life in risk assessment and modeling. The insurance industry and markets use actuarial science to determine pricing and make trading decisions. Governments apply probabilistic methods in environmental regulation, entitlement analysis, and financial regulation.

• Probability Rule One (For any event A, 0 ≤ P(A) ≤ 1)
• Probability Rule Two (The sum of the probabilities of all possible outcomes is 1)
• Probability Rule Three (The Complement Rule)
• Probabilities Involving Multiple Events.
• Probability Rule Four (Addition Rule for Disjoint Events)

Step-by-step explanation:

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