Bay’s Theorem: A Construction Company finds that an experienced machine operator of its company (one or more years of experience) will produce a defective item 1.5% of the time. Operators with some experience (up to one year) will produce a 2.5% defective rate and new operators will produce a 5% defective rate. The company has 65% experienced employees, 25% with some experience and 10% new employees. Find the probability that a) Experienced operator of a company produced a particular defective item. b) Operator with some experience of a company produced a particular defective item. c) New operator of a company produced a particular defective item
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
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