Mutually Exclusive Events: If A ∩ B = ∅, Events are called Mutually Exclusive Events. Probability: Let U be a finite sample space and S be its power set. Suppose that a set function P : S ⟶ R satisfies following axioms. Axiom 1: For every A ∈ S, P(A) ⩾ 0. Axiom 2: P(U) = 1. Axiom 3: For every, A1 ∈ S, A2 ∈ S, If A1∩ A2 = ∅, then P(A1∪ A2) = P(A1) + P(A2) . Then P is called a Probability function. For event A ∈ S, P(A) is called the probability of the event A . Compound events: A compound event is an event which has more than one possible outcome.