If Two Events Are Collectively Exhaustive,what Is the Probability That

question 59

Multiple Choice

If two events are collectively exhaustive,what is the probability that one or the other occurs?

• A)0.
• B)0.50.
• C)1.00.
• D)Cannot be determined from the information given.

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Definitions:

Policy

A course or principle of action adopted or proposed by an organization or individual, guiding decisions and achieving rational outcomes.

Premium

An amount paid for an insurance policy, reflecting the cost of coverage.

Real Estate Closing

The final step in executing a real estate transaction where the title is transferred and financial dealings are settled.

Closing Costs

The expenses, over and above the price of the property, that buyers and sellers normally incur to complete a real estate transaction.