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If Two Events Are Mutually Exclusive and Collectively Exhaustive,what Is

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If two events are mutually exclusive and collectively exhaustive,what is the probability that one or the other occurs?


Definitions:

Franchising

A business model that allows an individual or group to operate a business using the branding and business structure of an established company.

Contractual Vertical Marketing System

A system in which independent firms at different levels of the distribution chain work together through contractual agreements to achieve greater economies of scale and reach a greater market effectiveness than they could achieve alone.

Horizontal Marketing System

A collaboration strategy where companies at the same level of the value chain join forces to exploit a marketing opportunity.

Administered Vertical Marketing System

A coordinated marketing system managed by a single channel member to achieve efficient distribution.

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