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Difference between Conditional Probability and Joint Probability
Conditional probability is the likelihood of an event occurring given that another event has already occurred. It is calculated by dividing the joint probability of the two events by the probability of the given event.
On the other hand, joint probability is the likelihood of two events occurring simultaneously. It is calculated by multiplying the probabilities of the individual events.
Therefore, the key difference between conditional probability and joint probability lies in the way they are calculated and the scenarios in which they are used.
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