Joint Probability
Definition of 'Joint Probability'A statistical measure where the likelihood of two events occurring together and at the same point in time are calculated. Joint probability is the probability of event Y occurring at the same time event X occurs.Notation for joint probability takes the form: ![]() |
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Investopedia explains 'Joint Probability'Joint probability is a measure of two events happening at the same time, and can only be applied to situations where more than one observation can be occurred at the same time.For example, a joint probability can not be calculated when tossing a coin on the same flip. However, the joint probability can be calculated on the probability of rolling a 2 and a 5 using two different dice. |
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