EC 285 - Chapter 3 - Probability Topics

Goals (from the slides)

• Random experiment, basic outcome, sample space, event; intersection, union, complement, mutually exclusive, collectively exhaustive
• Classical probability; counting outcomes, permutations and combinations
• Addition rule, conditional probability, multiplication rule
• Statistical independence; joint and marginal probabilities; probability tables and tree diagrams
• Odds ratio

Key terms

Formulas

My notes

Practice

• Tutorial problems for this chapter
• OpenStax end-of-chapter practice