I the Complement Rule States That the Probability of an Event

question 75

Multiple Choice

i. The complement rule states that the probability of an event not occurring is equal to one minus
The probability of its occurrence.
ii. If there are two independent events A and B, the probability that A and B will occur is found by
Multiplying the two probabilities. Thus for two events A and B, the special rule of multiplication
Shown symbolically is: P(A and B) = P(A) P(B) .
iii. The general rule of multiplication is used to find the joint probability that two events will occur.
Symbolically, the joint probability P(A and B) is found by: P(A and B) = P(A) P(B/A) .

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and, (ii) are correct statements but not (iii).
• C) (i) and, (iii) are correct statements but not (ii).
• D) (ii) and, (iii) are correct statements but not (i).
• E) (i), (ii) and (iii) are all false statements.

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Definitions:

Raw Materials

The basic, unprocessed elements or ingredients used in the manufacturing process to create finished goods.

Production Schedule

It is the timeline and plan for the manufacturing process, detailing when and how products will be produced.

Budgeted Sales Data

Projected figures for sales revenue, volume, and related costs, used for planning and forecasting purposes within a business.

Cash Collections

The process of gathering all cash revenues and receipts by a company over a period of time.