Joint Probability (Noun)
Meaning
The probability of two events occurring together.
Classification
Nouns denoting attributes of people and objects.
Examples
- The statistical model then calculates the joint probability of winning the lottery and getting a phone call within the hour to win a major prize.
- To solve the given problem the actuary first needs to determine the joint probability that the company goes bankrupt and a specific regulation doesn't apply.
- Joint probability models have been developed to calculate the likelihood of weather disturbances caused by two particular atmospheric conditions occurring together.
- Given the probability of an individual smoking and having depression, the researcher aimed to find the joint probability for both variables using the obtained survey data.
- The economist then used these individual probabilities to estimate the joint probability that a recession would happen simultaneously with a national election being held in the same year.