What Are Independent and Dependent Events? Probability tells us the likelihood of an event taking place or not. It is represented between numbers 0 and 1, with 1 showing certainty and 0 representing impossibility of occurrence of an event. If the probability is a number closer to 1, it represents a higher likelihood of happening. However, if the number is closer to 0, then the event has fewer chances of taking place. In probability, the event is defined as the outcome of the experiment. These events can be classified as independent events and dependent events. Independent events are those events that occur freely of each other. In other words, the incidence of one event doesn't hinder or affect the occurrence of another event. For example, the outcomes of two rolling dies do not depend on each other. The outcome of one die doesn't affect or change the outcome of the second die. Two events are independent if one or more of the following are true. P(A|B) = P(A), P(B|A) = P(B), P(A ∩ B) = P(A) P(B) Dependent events are those events that rely on each other. In simpler words, the occurrence of one influence the incidence of the other event.

We look at the probability of events that have little to no connection to each other. We also look at events that basically caused by each other. These are very common situations to find your self in on a daily basis if you work is related to the finance field. The most common physical objects that are used with this math are marbles, cards, colored balls, and I often see pulling names out of a hat.