The Probability That House Sales Will Increase in the Next

question 54

Multiple Choice

The probability that house sales will increase in the next 6 months is estimated to be 0.25.The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.74.The probability that house sales or interest rates will go up during the next 6 months is estimated to be 0.89.The events increase in house sales and increase in interest rates in the next 6 months are

• A)independent.
• B)mutually exclusive.
• C)collectively exhaustive.
• D)None of the above.

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Definitions:

Tangible Benefits

Refers to measurable and concrete advantages or gains resulting from an action or investment, such as cost savings or increased revenues.

Salary

A fixed regular payment, typically expressed on an annual basis, made by an employer to an employee, especially a professional or white-collar worker.

Health Insurance

A system of financial protection against medical expenses, where individuals or their employers pay premiums to an insurance company, which then covers eligible health care costs.

Foster Care

A temporary arrangement in which a child is placed under the care of a family or institution other than their parents or legal guardians.