Examlex
The development of a new product ends when the item arrives at the shipping dock.
Probability
The evaluation of how likely it is for an event to happen.
Independent Events
Two or more events where the occurrence of one does not affect the probability of the others occurring.
Conditional Probability
The probability of an event given that another event already occurred. The conditional probability of A given B is P(A ∣ B) = P(A ∩ B)/P(B).
P(B | A)
The probability of event B occurring given that event A has already occurred, a concept in conditional probability.
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