Decide Whether or Not the Events Are Mutually Exclusive

question 101

Multiple Choice

Decide whether or not the events are mutually exclusive.
-Events A and B defined as follows Event A is that at least three of Toni's five cousins are female.
Event B is that at most four of Toni's five cousins are male.

• A)Yes
• B)No

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus cost of goods sold (COGS).

Lower-of-cost-or-market

An accounting principle requiring that inventory be recorded at the lower of either its original cost or its current market price.

Ending Inventory

The final stock level of products or materials that a company has in hand at the close of an accounting period, rephrased as "terminal inventory balance."

Periodic Inventory System

An inventory system that updates the count and valuation of stock at specific intervals, rather than continuously.