BADM 326 PRACTICE SOLUTION SET 2026 COMPLETE QUESTIONS AND ANSWERS GUARANTEED TO PASS

BADM 326 PRACTICE SOLUTION SET 2026
COMPLETE QUESTIONS AND ANSWERS
GUARANTEED TO PASS

●● union.
Answer: -having one, or the other, or both


●● intersection.
Answer: -requires the occurrence of both events
-probabilities multiplied together


●● complement.
Answer: -all the events possible besides the event specified


●● conditional probability.
Answer: -the probability of one event occurring, given that a prior event
has already happened


●● multiplication law.
Answer: -deriving the intersection between two events
-𝑃(𝐴 ∩ 𝐵) = 𝑃(𝐴) ∗ 𝑃(𝐵|𝐴) = 𝑃(𝐵) ∗ 𝑃(𝐴|𝐵)

, ●● addition law.
Answer: -determines the probability of at least one event occurring out
of the ones specified
-𝑃(𝐴 ∪ 𝐵) = 𝑃(𝐴) + 𝑃(𝐵) − 𝑃(𝐴 ∩ 𝐵)


●● independent events.
Answer: -events that do not influence each other
-two events are independent when the conditional probability of
occurrence is the same as the general probability of occurrence
-𝑃(𝐴|𝐵) = 𝑃(𝐴)
-𝑃(𝐵|𝐴) = 𝑃(𝐵)


●● mutually exclusive events.
Answer: -events that can never happen together at the same time
-𝑃(𝐴 ∪ 𝐵) = 𝑃(𝐴) + 𝑃(𝐵) − 𝑃(𝐴 ∩ 𝐵) = 𝑃(𝐴) + 𝑃(𝐵)


●● joint probability.
Answer: -the intersection between each of the two random variables


●● marginal probability.
Answer: -the probability of a single event