A Joint Probability Distribution describes the likelihood of two or more events happening at the same time. It shows how the probabilities of different outcomes are related when multiple random variables are involved.
Applications/Use Cases:
- Weather Forecasting: Predicting the chance of rain and wind occurring together.
- Medical Research: Assessing the probability of having both high blood pressure and high cholesterol.
- Market Analysis: Estimating the likelihood of a customer buying both a laptop and a smartphone.