Download Excel File: https://excelisfun.net/files/Ch04-ESA.xlsm pdf notes: https://excelisfun.net/files/Ch04-ESA.pdf
Learn about the Multiplication Law of Probability to calculate AND Logical Test Probabilities. Learn how to build a probability tree too.
Topics:
1. (00:00) Introduction
2. (00:17) Look back at Conditional Formatting Probability Rule and how it related to the Multiplication Law of Probability
3. (01:27) Multiplication Law of Probability for Dependent and Independent Events
4. (02:52) Define Independent Events
5. (03:38) Rule of Independence
6. (05:21) Use Multiplication Rule to calculate Probability that two stocks with both go up
7. (05:58) Use Multiplication Rule to calculate Probability that you can pull two Queen Cards in Succession
8. (06:51) Use Multiplication Rule to calculate Probability that you can make sales, back to back, in two sales call
9. (07:35) Create Probability Tree on Paper
10. (09:28) Create Probability Tree in Excel
11. (10:12) Heart Attack and Smoking Probability Tree Example
12. (10:42) Summary of video
13. (11:08) Closing and Video Links