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Why are financial intermediaries so important to an economy?
Conditional Probability
Conditional probability is the probability of an event occurring given that another event has already occurred.
Independent Events
Two events are considered independent if the occurrence of one does not affect the probability of occurrence of the other.
Simultaneously
Occurring, operating, or done at the same time; often used in statistical contexts to describe events or processes that happen concurrently.
Complement
In probability and statistics, it refers to the event of something not happening, the counterpart to the occurrence of a specific event.
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