If Events a and B Are Mutually Exclusive, Then the Probability

question 98

Multiple Choice

If events A and B are mutually exclusive, then the probability of both events occurring simultaneously is equal to:

• A) -1
• B) 0
• C) 1
• D) any value between 0 and 1
• E) 0.5

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Definitions:

Prestige Pricing

A pricing strategy where goods are priced higher to evoke a sense of luxury or exclusivity.

Lamborghini

An Italian brand known for manufacturing luxury sports cars and SUVs, characterized by their high performance and distinctive design.

Competitive Parity Pricing

Competitive Parity Pricing is a pricing strategy where businesses set prices similar to their competitors, aiming to maintain market share rather than to differentiate based on price.

Price Elasticity

A measure of the sensitivity of quantity demanded or supplied to changes in price.