When Two or More Events Can Occur Concurrently It Is

question 97

Multiple Choice

When two or more events can occur concurrently it is called

• A) conditional probability.
• B) empirical probability.
• C) joint probability.
• D) a tree diagram.

---

Definitions:

Manufacturing Overhead

Indirect costs associated with manufacturing, not directly tied to specific product units, such as equipment maintenance, factory rent, and management salaries.

Finished Goods

The final products that have completed the manufacturing process and are ready for sale.

Direct Labour Wage Rate

The hourly rate paid to workers directly involved in the production of goods or services.

Overhead Rate

The ratio of overhead costs to the base cost, used to allocate overhead to products or services.