Conditional Probability (Noun)
Meaning
The probability that an event will occur given that one or more other events have occurred.
Classification
Nouns denoting attributes of people and objects.
Examples
- The doctor explained that the patient's chance of recovery was a conditional probability based on their ability to complete the treatment program.
- Calculating the conditional probability of a stock market crash given the current economic conditions is crucial for investors to make informed decisions.
- The conditional probability of a car accident occurring given that the driver is speeding can be used to develop targeted safety campaigns.
- Insurance companies use conditional probability to determine the likelihood of a claim being made given the policyholder's history of previous claims.
- A researcher analyzed the conditional probability of a medical treatment being effective given the patient's age and medical history.