If I have 2 deals that I am working on: The first I have a 50% chance
to get and on  the second I have a 33% chance.  What is my probability
of getting one yes between the two deals. ($10.00)

Hi dwilliams49,

There are four possible outcomes to the deals that you are working on.
The outcomes and their probabilities are shown below:

P(Yes to first deal and Yes to second deal) = 50% * 33% = 1/2 * 1/3 = 1/6

P(Yes to first deal and No to second deal) = 50% * 67% = 1/2 * 2/3 = 1/3

P(No to first deal and Yes to second deal) = 50% * 33% = 1/2 * 1/3 = 1/6

P(No to first deal and No to second deal) = 50% * 67% = 1/2 * 2/3 = 1/3


There are two possible outcomes where you will get one yes:

P(Yes to first deal and No to second deal)

P(No to first deal and Yes to second deal)

Adding the two probabilities for these two outcomes together gives you
the answer you are looking for:

1/3 + 1/6 = 1/2 = 50%

Therefore, the probability of getting one yes between the two deals is 50%.

A great way to solve this type of problem is to use tree diagrams
which enable you to illustrate all possible outcomes and to calculate
probabilities. Web sites showing examples of the use of tree diagrams
in solving probability questions are listed below:

GCSE Bitesize
http://www.bbc.co.uk/schools/gcsebitesize/maths/datahandlingih/probabilityirev2.shtml

Easy Maths
http://www.easymaths.com/Tree_Diagrams.htm

Maths Help
http://www.maths-help.co.uk/Knowldge/Stat/Treeprob/Question.htm

Learn.co.uk
http://www.learn.co.uk/default.asp?WCI=Unit&WCU=282


Search Strategy

"tree diagrams" + probability
://www.google.com/search?q=%22tree+diagrams%22+probability

If you have any questions or require a clarification please let me know.

Thanks,
lotd

Note that the above analysis (which is excellent) is for "PRECISELY
one Yes".  If the question relates to "AT LEAST one Yes", then you'd
also have to add in the probability for the Yes/YES case.

Hi, Your chance is higher than 50%.

If events A and B are not mutually exclusive (meaning they can occur
at the same time) then the probability of one event or another
happening is given by:

P(A or B) = P(A) + P(B) ? P(A AND B)
=
(.50+.33) - (.50*.33) = 66.5% chance of getting a yes