In terms of this CFA playlist, we are still in the early quantitative methods or the foundations of quantitative methods. In the previous video, I reviewed some basic statistical concepts and now I follow that up with a review of some basic or foundational probability concepts. We want to hit...
The probability matrix includes joint probabilities on the "inside" and unconditional (aka, marginal) probabilities on the outside. The key relationship is joint probability = unconditional * conditional.
Here is David's XLS: https://www.dropbox.com/s/thqkesz65niutil/1204-yt-probability-matrix.xlsx
Hi I was trying to understand the difference between Joint Probability and Conditional Probability
I came across this post of yours.
What I do not understand is the difference between...
Football Team A chances are winning is 50%, probability than star player scores a goal when Team A wins the match is 36%.
Star Player scores a goal in 20% of all the matches.
Q1 What is the Joint probability of Team A winning and star player not scoring
Q2 What is the conditional probability...
Here is a recent question I wrote to test Bayes Theorem (which has been reintroduced into the FRM)
1. Tree Approach
I have typically used a (binomial) tree to visualize this sort of problem. You start the tree with the unconditional (aka, marginal) probabilities which are the probabilities...