Join Eddie Davila for an in-depth discussion in this video Multiplication rule, part of Statistics Foundations: Probability.
- Earlier we saw the addition rule of probability. … Now let's look at the multiplication rule of probability. … Let's look at two different scenarios, … each with multiple events. … Let's say we have a pair of dice. … One is red in color. … The other is white. … If we roll each die, what's the probability … both dice will come up with a one? … First, let's recognize … that these are two independent events. … The outcome of rolling the red die … in no way influences the outcome of the white die. … For two independent events, … we find the probability of each individual desired outcome. … The odds of rolling a one on the red die is one in six, … a 16.7% probability. … The odds of rolling a one on the white die … is also one in six, also a 16.7% probability. … The multiplication rule tells us … that to find the probability … that both the white and red die come up one, … we multiply the probabilities of each individual outcome. … 16.7% X 16.7% is 2.79%. … There's a 2.79% chance … both dice will come up ones. …
Eddie explains that probability is used to make decisions about future outcomes and to understand past outcomes. He covers permutations, combinations, and percentiles, and goes into how to describe and calculate them. Eddie introduces multiple event probabilities and discusses when to add and subtract probabilities. He describes probability trees, Bayes’ Theorem, binomials, and so much more. You can learn to understand your data, prove theories, and save valuable resources—all by understanding the numbers.