What principle states that the probabilities of multiple events are multiplied together to determine the likelihood of all those events occurring?

The principle that states the probabilities of multiple events are multiplied together to determine the likelihood of all those events occurring is known as the Multiplication Principle. This principle is fundamental in probability theory, especially when dealing with independent events. When you have two or more independent events, the overall probability that all events occur is found by taking the product of their individual probabilities.

For example, if the probability of Event A occurring is 0.5 and the probability of Event B is 0.3, the probability of both events occurring together is calculated by multiplying these probabilities: 0.5 * 0.3 = 0.15. This illustrates how the Multiplication Principle allows for the assessment of joint probabilities, which is essential in making data-driven decisions based on multiple factors or events. Other concepts like the Addition Principle refer to calculating the probability of either event happening, which is different from the focus on multiple events occurring together.