Compute the complementary probability of an event A (that is, the probability that event A will not occur), given the probability of event A occurring. Knowing the complementary probability of an event is often very useful in analytics studies that examine event occurrence.
Compute the conditional probability of an event A (that is, the probability of event A occurring, given that event B has occurred), given the probability of event B, and the joint probability of events A and B. Knowing how the probability of one event changes when another event has occurred can be very useful in analytics studies that examine event occurrence.
Compute the joint probability of two events A and B (that is, the probability of A and B occurring together), given the probability of event B, and the conditional probability of event A. Knowing how likely it is that two events will occur together can be very useful in analytics studies that examine event occurrence.
Compute the union probability of two events A and B (that is, the probability that either A or B, or both A and B will occur), given the probability of event A, the probability of event B, and the joint probability of events A and B. Knowing how likely it is that one or both events will occur can be very useful in analytics studies that examine event occurrence.