From the course: Statistics Foundations 2: Probability

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Probabilities of two events

Probabilities of two events - Microsoft Excel Tutorial

From the course: Statistics Foundations 2: Probability

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Probabilities of two events

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- Sometimes there are multiple outcomes that would lead us to the same conclusion. Let's play a game. We'll flip two coins. If even one coin comes up heads, you win. What are your odds of winning? Well, here are the four possible outcomes: heads on both the first and second coin, tails on the first and second coin, and so on. Let's call each coin flip an event. So if event one is heads, we win. Or if event two is heads, we win. And if both events are heads, well, we're hot. We're on a roll. Our luck is good. Vegas, here we come. Notice, we have an overlap. When we get heads on both flips, there's a winner on event one and a winner on event two. We want to be sure not to double-count that outcome. So 50% of our four outcomes provide a winner on flip number one. 50% of our four outcomes provide a winner on flip number two. And we then subtract the overlap, where we had winners on both flips. This was on 25% of…

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