The Probability That House Sales Will Increase in the Next

question 70

Multiple Choice

The probability that house sales will increase in the next 6 months is estimated to be 0.25. The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.74. The probability that house sales or interest rates will go up during the next 6 months is estimated to be 0.89. The events of increase in house sales and increase in interest rates in the next 6 months are

• A) statistically independent.
• B) mutually exclusive.
• C) collectively exhaustive.
• D) None of the above.

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Definitions:

Myocardial Infarction

A heart attack that occurs when the blood flow to the heart is reduced as a result of blockage in the coronary arteries or their branches.

Chest Pain

A sensation of discomfort or pain in the chest, which can be a symptom of various conditions ranging from non-serious to life-threatening.

Infection

The presence of a pathogen in or on the body.

Heat

A form of energy that is transferred between systems or objects with different temperatures, flowing from the hotter object to the cooler one.