Probability Fundamentals and Random Variables
Free GARP FRM Part I lesson in Quantitative Analysis. 19 min read, ~2,827 words.
Event space is the full list of mutually exclusive outcomes; events are subsets. Probabilities sum to 1 across the event space. Overlapping events:; add directly only when mutually exclusive. If one event is a subset of the other, the union equals the larger probability. Independent means; mutually exclusive means. They...
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- Example 1
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- Exam Shortcuts
Learning objectives
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