joint probability
Definition:
The likelihood of two (or more) events occurring together, computed by multiplying together their separate probabilities of occurrence, i.e. if there is a 0.5 probability of A occurring and a 0.3 probability of B occurring under a given set of circumstances, then the joint probability of their both occurring is 0.5 x 0.3 = 0. 15.
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker],.