## Quick Reference

For two jointly distributed random variables *X* and *Y* the conditional distribution of *Y* given *X* is the distribution of *Y* when *X* takes particular values. For discrete random variables it is given by

*P*[*Y* = *y* | *X* = *x*] = *P*[*X* = *x*, *Y* = *y*]/*P*[*X* = *x*].

For continuous random variables, the conditional density function is given by

*f*(*y* | *x*) = *f*(*x*, *y*)/*f*(*x*)

where *f*(*x, y*) is the joint density function, and *f*(*x*) is the marginal density function of *X*.

*Subjects:*
Economics.

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