If event A has a probability of \( 0.5 \) and event B has a probability of \( 0.3 \), what is the probability that both events occur?
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The probability that both events A and B occur can be found using the formula \( P(A \cap B) = P(A) \times P(B) \) only if events A and B are independent. In this case, that would be \( 0.5 \times 0.3 = 0.15 \). So, there is a 15% chance that both events will occur together! When dealing with probabilities, it’s important to remember that misuse of the independence assumption can lead to incorrect conclusions. Always evaluate whether events influence each other before applying the multiplication rule! Common mistakes include assuming independence without proper justification.