If Two Events Are Mutually Exclusive and Collectively Exhaustive,what Is

question 114

Multiple Choice

If two events are mutually exclusive and collectively exhaustive,what is the probability that both occur?

• A)0.00
• B)0.50
• C)1.00
• D)Cannot be determined from the information given.

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Definitions:

Trade Discount

A reduction in the list price granted by a seller to a buyer based on the volume or value of the purchase.

FOB Shipping Point

A term used in shipping agreements indicating that the buyer is responsible for the goods and the shipping costs as soon as they leave the seller’s premises.

Sales Revenue

The earnings a business obtains through the sale of products or the delivery of services.

Trade Discount

A reduction in the listed price of a product or service, offered by sellers to buyers in the same trade or industry.