| Law | Definition |
|---|---|
| Multiplication Rule | Calculates the probability of the intersection of two events. For independent events: the product of their individual probabilities. For dependent events: takes into account the conditional probability. |
| Addition Rule | Used for mutually exclusive events to calculate the probability of any one of two or more events occurring. The sum of their individual probabilities, minus the probability of both events occurring together (if applicable). |
| Complementary Rule | Finds the probability of an event not occurring by subtracting the event’s probability from 1. |
| Conditional Probability | The probability of an event occurring given that another event has already occurred. |
| Bayes’ Theorem | Uses prior probabilities to predict future likelihoods, updating the probability of a hypothesis based on given evidence. |
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