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Probability of Uncorrelated Events
Posted on 2006-05-26
Dear Experts:
I have what I think are a couple of basic probability questions that I can't get my head around. I don't know anything about statistics, so bear with me.
Here's my question: assume that are four independent, uncorrelated events, each of which has a 25% chance of occurring. Three questions:
1) What is the chance that any one of the four events will occur? In other words, there are four 25% chances--is there thus a 100% probability of one of the events occuring?
2) What is the probability that any two of the four events will occur?
3) Is the probability that all four events will occur equal to (.25 x .25 x .25 x .25)?
Please excuse if I am using improper or inexact terminology. Please include the basic formula with any answer...
Regards,
TMR