For any event that has multiple outcomes with different probabilities, it can be helpful and illustrative to construct a chart or diagram of the possible outcomes. Tree diagrams are a useful example ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

Forbes contributors publish independent expert analyses and insights. Writes about the future of finance and technology, follow for more. Joint probability teaches us to calculate combined outcomes.