The Probability That House Sales Will Increase in the Next

question 15

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 increase in house sales and increase in interest rates in the next 6
Months are

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

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.