A union probability is denoted by P(X or Y), where X and Y are two events. P(X or Y) is the probability that X will occur or that Y will occur or that both X and Y will occur. The probability of a...
It is also called chance and likelihood, these are often used interchangeably. Expresed in decimals or fractions and it can assume any number from 0 to 1. Closer to 0 the less likely the event will...