Addition and Multiplication Rules

Free SOA Exam P (Probability) lesson in General Probability. 14 min read, ~2,073 words.

Addition rule:; rearrange to solve for any of the four quantities. Multiplication rule:; simplifies to only under independence. Chain rule:. Without replacement: update the denominator at each step (20, 19, 18,..). Bonferroni bound:; any answer below this is infeasible. Probability trees visually apply the multiplication rule; sum across leaves for...