Probability and independence are difficult concepts, as they require the coordination of multiple ideas. This qualitative research study used clinical interviews to understand how three undergraduate students conceptualize probability and probabilistic independence within the theoretical framework of APOS theory. One student's reasoning was consistent with a process conception, one student with at least an object conception, and one with a schema conception of probability and independence. Differences in students' thinking are analyzed, with a specific focus on intuition and simultaneously occurring events. [For the complete proceedings, see ED606531.]