Determine Whether the Events Are Disjoint

question 19

Multiple Choice

Determine whether the events are disjoint.
-Based on meteorological records, the probability that it will snow in a certain town on January 1st is 0.428. Find the probability that in a given year it will not snow on January 1st in that town.

• A) 2.336
• B) 0.572
• C) 0.748
• D) 1.428

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Definitions:

Variable Costing

An accounting approach that includes only variable costs—direct materials, direct labor, and variable manufacturing overhead—in product costs, excluding fixed manufacturing overhead.

Unit Product Cost

The calculated cost of producing a single unit of product, which includes both fixed and variable costs.

Total Period Cost

The entire sum of expenses incurred by a business during a specific period, including both fixed and variable costs.

Absorption Costing

An accounting method that includes all manufacturing costs (direct labor, materials, and overhead) in the cost of a product.