Conditional Probability
In many situations, once more information becomes available; we are able to revise our estimates for the probability of further outcomes or events happening.
For example, suppose you go out for lunch at the same place and time every Friday and you are served lunch within 2O minutes with probability 0.85. However, given that you notice that the restaurant is exceptionally busy, the probability of being served lunch within 20 minutes may reduce to 0.6. This is the conditional probability of being served lunch within 20 minutes given that the restaurant is exceptionally busy.
Learn more about conditional probability by reading the explanation below.
Practice: Answer the following exercises about conditional probability.