If a and B Are Independent Events with P(A) =

question 10

Multiple Choice

If A and B are independent events with P(A) = 0.35 and P(B) = 0.20, then, P(A ∪ B) =

• A) 0.07.
• B) 0.62.
• C) 0.55.
• D) 0.48.

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Definitions:

Annuity

An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees.

Income

Money received, especially on a regular basis, for work or through investments.

Going Rate

Refers to the current average cost or pricing point for goods, services, or wages in a particular market or industry.

Oil Well

A drilled site where petroleum and natural gas are extracted from beneath the earth's surface.