Basic Rules of Probability \(P(A), P(B), …\) represents probability of occurrence of events \(A, B, …\) Probability of any event \(X\) can be calculated as the ratio of the number of chances favorable for event \(X\) to the total number of chances: i.e.; \(P(X) = \frac{m_X}{n}\) where, \(n\) is the total number of chances & \(m_X\) is the number of chances favorable for event \(X\) Probability of any random event lies…