It would be difficult to overestimate the importance of stochastic independence in both the theoretical development and the practical appli- cations of mathematical probability. The concept is grounded in the idea that one event does not "condition" another, in the sense that occurrence of one does not affect the likelihood of the occurrence of the other. This leads to a formulation of the independence condition in terms of a simple "product rule," which is amazingly successful in capturing the essential ideas of independence. However, there are many patterns of "conditioning" encountered in...
It would be difficult to overestimate the importance of stochastic independence in both the theoretical development and the practical appli- cations o...