Events a and B Are Mutually Exclusive with P(A) =

question 13

Multiple Choice

Events A and B are mutually exclusive with P(A) = .3 and P(B) = .2. The probability of the complement of event B equals _____.

• A) 0
• B) .06
• C) .70
• D) None of the answers is correct.

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Definitions:

Net Operating Income

The profit realized from a business's operations after subtracting all operating expenses but before taxes and interest.

Planning Budget

A budget prepared for a specific level of activity, used as a tool for decision making and planning.

Net Operating Income

A company's income after operating expenses are subtracted but before deducting interest and taxes, reflecting the profitability from core operations.

Planning Budget

A budget created for a specific level of activity, it helps in planning and controlling costs based on projected operational activities.