Let $A , B$ , And $C$ Be Events in a Sample Space

question 11

Essay

Let $A , B$ , and $C$ be events in a sample space $S$ such that $S = A \cup B \cup C$ . Suppose that $P ( A ) = 0.3 , P ( B ) = 0.6$ , and $P ( A \cap B ) = 0.2$ . Find each of the following.
(a) $P ( A \cup B )$
(b) $P ( C )$
(c) $P \left( A ^ { c } \cup B ^ { c } \right)$

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Definitions:

Performance Report

A detailed report comparing budgeted data to actual data.

Budgeted Costs

Estimated financial figures for revenues and expenses set during the budgeting process for a future period.

Labour Efficiency Variance

A measure used in cost accounting to determine the difference between the actual hours worked and the standard hours planned for a task, multiplied by the standard labor rate.

Variable Overhead Efficiency Variance

A metric that measures the difference between the actual variable overhead cost incurred and the standard cost expected for the actual production level.