Conditional probability is the probability of an event occurring given that another event has already occurred. It is denoted as P(A|B), which reads as "the probability of event A given event B."
The formula for conditional probability is:
P(A|B) = P(A and B) / P(B)
Suppose we have a deck of 52 cards. What is the probability of drawing a king from a deck of cards, given that the card drawn is a face card?
Let's solve this using conditional probability:
Event A: Drawing a king (4 kings in a deck)
Event B: Drawing a face card (12 face cards in a deck)
P(A and B) = 4/52 (probability of drawing a king from a deck of cards)
P(B) = 12/52 (probability of drawing a face card from a deck of cards)
Therefore, P(A|B) = (4/52) / (12/52) = 1/3
With this guide and understanding of conditional probability, you can solve various probability problems and make informed decisions based on conditional events.