If Two Events (A,B)are Mutually Exclusive, What Is the Probability

question 109

Short Answer

If two events (A,B)are mutually exclusive, what is the probability of event A or event B occurring?

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Definitions:

Departmental Overhead Rates

The method of allocating overhead costs to specific departments within a company based on predetermined rates.

Manufacturing Cost

The total cost related to producing goods, including materials, labor, and overhead expenses.

Machine-Hours

A measure of production volume or activity based on the number of hours machines are operated within a specified period.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead costs to products or job orders, calculated before the period begins based on estimates.