Determine Whether the Events Are Independent

question 125

Multiple Choice

Determine whether the events are independent.
-In a city, 20% of the people drive Cadillacs and 29% of business executives drive Cadillacs. Are the events "person drives a Cadillac" and "person is an executive" independent?

• A)No
• B)Yes

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Definitions:

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash and bank deposits.

Political Business Cycle

Economic fluctuations that result from policymakers' attempts to stimulate the economy or reduce unemployment shortly before elections to gain electoral advantage.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Fixed Percentage

A specific, unchanging proportion or rate applied to a quantity or value, often used in calculating interest, commission, or growth rates.